Home    The Contractor of the Istanbul Finance Center Went Bankrupt

The court ruled that the Yeni Sarp Construction went bankrupt! Yeni Sarp İnşaat Company is the fuss of the Sarphan Finans Bank which was constructed in Atasehir, Istanbul. Alaaddin and Ihsan Akar are the owners of the Sarp İnşaat and Öz Akar. They undertook the Sarphan Finans Bank project.

Yeni Sarp Construction with 50 million shares filed for bankruptcy postponement at the beginning of the year. (2017) Istanbul Anatolian First Commercial Court ruled the measure about the company and appointed a trustee. The company’s bankruptcy postponement request was taken to the core. Demand of some creditor companies involved in the case and expertise reports about the Yeni Sarp İnşaat affected the case; the company went bankrupt.

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A Private Bank Between the Creditors

The Postponement of Bankruptcy removed with this court rule. The file was sent to the Istanbul Anatolian 3.Executive Bankruptcy Directorate for the liquidation of the company. A bankruptcy desk made up of creditors was created. Bankruptcy office will make the payments by selling the company assets. Many companies and a private bank are between the Yeni Sarp Construction creditors.

Yeni Sarp Construction: We Will Appeal!

The lawyer of the Yeni Sarp Construction Ersoy Akdemir said that the judicial process was still continuing. Despite the severe economic conditions that Turkey has been in recent years, Yeni Sarp Construction used all facilities to fulfil the projects and commitments. He also said that they would legally follow the case up to the last stage with great determination.

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