According to the Amendment of Execution and Bankruptcy and Certain Laws For Improvement of The Investment Environment was entered into force on 10.03.2018 (article 17 will enter into force after 6 months and article 2,24,25,26 were entered into force on 15.03.2018 ) And also Bankruptcy Law Articles 285-309 was amended for arrangement of bankruptcy on 28.02.2018.
Above regulations which had changed with and has to be review together with Enforcement and Bankruptcy Law Article 285-309 and points out a manner of speaking as adjournment for companies in difficult situations. Therefore, the Arrangement of bankruptcy is in place of formerly used bankruptcy adjournment regulations.
Recently, within this new regulation, courts are receiving the intense demand.
According to Deputy Prime Minister Recep Akdağ mentioned in his interview about new regulations that "Instead of liquidation of the companies, we have mainly based on companies' continuation of commercial life."1
This means even Turkey is in state of emergency period, companies can demand their arrangement of bankruptcy and they can carry on their commercial activities, as long as pay their debts in an orderly manner in the limited time period.
Footnotes
1 İstanbul Chamber of Commerce https://www.itohaber.com/haber/guncel/207589/iflas_ertelemeye_23_ay_siniri.html
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