1. Determination of the company’s debt status:
In case it is determined that the 2/3 of the company capital is non-existent, preparation of income tables, balance sheets, and detail trial balances accordingly.
2. Applying to court for obtaining a resolution for suspension of bankruptcy:
Determination of how to be freed from debt, preparation of recovery projects accordingly, applying to the court together with the recovery project first to get an injunction judgment, and then obtaining a resolution for suspension of bankruptcy through the establishment of the insolvency of the company with an expert report.
3. Negotiations with debtors and settlement through preparation of payment schedules.
1. Banks: Having discount for the loan through negotiations, settlement through payment agreements.
2. Public Loans: Study on restructuring.
3. Other debtors: Obtaining discounts for the debts other then the ones to above parties and institutions, settlement of the debt, and preparation of payment schedule.
4. Liquidation of the debt:
1. Paying the debt by working: Resolution for suspension of bankruptcy is given for one year and is extended if improvements are observed maximum four times. Making the as per the agreements and having it determined when improvements occur.
2. Debt liquidation through asset reduction: Liquidation of the debt through selling the movable and immovable properties of the company.
5. Making the payments and getting out of the suspension of bankruptcy:
After having made the payments in accordance with the recovery project, having company balance sheets taken out of suspension of bankruptcy.
6. Clearing the company assets:
Clearing the liens such as seizure and mortgage on the movable and immovable properties of the company.