Concordat, which is the strongest alternative to bankruptcy for companies experiencing financial difficulties due to economic fluctuations or commercial bottlenecks, is a vital restructuring tool that enables the debtor to bind their debts to a new payment plan by reaching an agreement with their creditors before the court. Thanks to this protective shield, enforcement proceedings initiated against the company are suspended, no new proceedings can be initiated, and the business's assets are protected against attachment. Thus, the company is provided with breathing room, gaining the necessary time and ground to continue its commercial activities, recover its cash flow, and maintain its economic existence.

However, the concordat process is not limited to a mere application; it is a highly technical judicial proceeding requiring the preparation of a realistic preliminary project, the submission of independent audit reports, and working in harmony with the board of commissioners appointed by the court. Securing the necessary majority at the meeting of creditors and the ratification of the project by the court are of critical importance for the success of the process. As Balta Karaca Law and Consultancy Firm, Att. Bilal Emir Balta and Att. Eyüp Can Karaca, we offer strategic and comprehensive legal consultancy services for businesses in financial distress to overcome this complex process with minimum damage, spread their debts over payable maturities, and regain financial stability while preserving their commercial reputation.