Recent DevelopmentThe Financial Restructuring Framework Agreement (“Previous FA“) drafted by the Banks Association of Turkey was revised to be divided into two separate framework agreements for large scale (the “Large Scale FA“) and small-scale (the “Small Scale FA“) debtors. What’s New?
Large Scale FA
In case of these enforcement action, at least two creditor institutions that own at least two-thirds of the claims will resolve as to whether the financial restructuring process will continue.
Small Scale FA
Draft Financial Restructuring Agreement:
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Legal Alerts
21/10/2019 09/06/2022
New Financial Restructuring Framework Agreement for SMEs
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Banking & Finance
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