Company (A) who has declared concordat took a cheque from its client company (B) and used it for guarantee. Company (B) who took the cheque couldn’t pay it and a cheque was written. So becuase of the company’s concordat decision, the bank can’t take any action against company (A) who negotiated the cheque. Is the bank allowed to seize company (B) who drew the cheque?
(29.11.2018 16:35)
Te subject is only related to concordat and it is not within the scope of Turkish Commercial Code. It is evaluated that the procedures can be followed by making an application to the concordat manager and that seizing is not possible during concordat.
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