Turkey revises debt restructur­ing regulation

Dünya Executive - - OVERVIEW -

Turkey ruled that fore gn cred t ent t es and nternat onal nst tut ons are allowed to jo n restructur ng processes, regardless of consent from other cred tors, a statement n the Off c al Gazette sa d on November 21. It also narrowed the def n t on of debtors to non-f nanc al compan es. Compan es seek ng to restructur­e the r debt need to be able to prove that they w ll ga n the ab l ty to repay the r debt w th n a reasonable per od, the statement sa d. In a prev ous rul ng, no t me frame was g ven to the ndebted compan es.

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