Bankruptcy Protection through Composition with Debtors instead of “Postponement of Bankruptcy”

The provisions as to “Postponement of Bankruptcy” within the Turkish Execution and Bankruptcy Law and Turkish Commercial Code have been abolished, however in return, the coverage and content of the provisions about Composition with Debtors have been expanded to provide a new alternative for bankruptcy protection. (Act. no. 7101, The Law Amending Execution and Bankruptcy Act and Various Acts, 15.03.2018)