A Decision Has Been Made Regarding the 51-Year-Old Turkish Bus Company on the Verge of Bankruptcy - Sözcü Newspaper.
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10 Articles
Following a temporary moratorium, a one-year definitive moratorium has been granted to Kale Seyahat and some companies within its group.
Kale Seyahat, Türkiye's renowned intercity bus company founded in 1975, and some of its group companies have been granted a one-year moratorium in their bankruptcy proceedings.
Founded in 1975, Kale Seyahat has entered a critical phase in its bankruptcy proceedings following financial difficulties. The Tekirdağ Commercial Court of First Instance converted the temporary moratorium granted for the company and its affiliated group companies into a one-year definitive moratorium.
A Travel Company with Half a Century of History Has Entered Bankruptcy Proceedings - Dünya Newspaper
Kale Seyahat, founded in 1975, has been granted a one-year definitive moratorium following a temporary concordat process. The decision of the Tekirdağ Commercial Court of First Instance included Kale Seyahat, its affiliated companies, and Cemal Alirıza Çelebi.
The court case for Kale Seyahat, one of Turkey's oldest transportation brands with 51 years of history, which sought bankruptcy protection, has entered a new phase. The company has been given one year to pay its debts; if it fails to do so, it will be declared bankrupt.
Established in 1975, Turkey's famous intercity bus company Kale Travel and some companies within the group had been applied for a concordat. A new development has taken place in the process of concordat of the half-century company. After the interim review, the court decided to impose a one-year grace period on the firm and related companies.
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