Ankara West Court 1: Alves Kablo and Two Individuals Granted Three-Month Concordat Grace Period

Ankara West Court of Commerce 1 issued a three-month temporary grace period decision regarding Alves Kablo under TMSF management, as well as Deniz Karamercan and Hikmet Alabıcak. The decision in case number 2026/845, effective as of October 20, 2026, was announced by court notice on October 28.

Ayhan Sarılar, Şafak Akyüz, and Ganite Kurt were appointed as temporary concordat commissioners to oversee the concordat process. The next hearing in the case will be held on January 20, 2027 at 14:10.

The decision was issued at a time when the company failed to make payments totaling 479 million 430 thousand 120 TL on its debt instruments. On October 20, the lease certificates issued by KT Sukuk Asset Leasing saw 400 million TL in principal and 79 million 430 thousand 120 TL in periodic returns unpaid. In a statement published by the issuing entity on the Public Disclosure Platform (KAP), the failure to make payment was attributed to Alves Kablo's failure to fulfill its obligations within the legal timeframe.

On October 23, the principal and coupon payments on the financing bond directly issued by the company also could not be made through the Central Registry Agency (MKK).

In a October 9 KAP announcement, Alves Kablo reported that commercial activities ceased as of August and announced it had filed for concordat. In the company's previous announcements, information was also shared that investment expenditures totaling 2.76 billion TL were postponed and 68 employees' employment contracts were terminated. Alves Kablo shares were transferred to Borsa Istanbul's Close Watch Market in September.