Turkey: Court suspends poultry firm’s bankruptcy case

06-02-2013 | | |
Turkey: Court suspends poultry firm s bankruptcy case
Turkey: Court suspends poultry firm s bankruptcy case

A Turkish court has agreed to Seker Piliç’s request, a leading poultry company, to suspend its bankruptcy process, executives announced this week.

The company has a debt of 19.6 million Turkish Lira (€8.2 mln) and of which, they claim, they paid 3 million Turkish Liras (€1.2 mln)  last week. But Banvit, a poultry and meat company, said that it had not reached an agreement for a share sale with Şeker Piliç. “We will reconsider it if the conditions reappear in the future,” Banvit said in a statement.

Şeker Piliç also conducted share sale talks with Torunlar Gıda in January, but the discussions were ended due to levies.

Şeker Piliç, based in the northwestern province of Balıkesir’s Bandırma district, where many poultry firms are located, has seen many of its activities terminated because of its debts to banks and suppliers.