1- The Concordat Expense Advance Tariff, prepared pursuant to the 4th paragraph of Article 285 of the Execution and Bankruptcy Law No. 2004, was published in the Official Gazette dated 24/08/2024 and numbered 32642, and entered into force as of 24/08/2024. With the entry into force of this Tariff, the Concordat Expense Advance Tariff, which was published in the Official Gazette dated 11/08/2023 and numbered 32276, has been repealed.

2- With the new regulation, changes have been made to the expense advances to be paid during concordat applications. Under this regulation, those applying for concordat are required to pay the following amounts in advance:

  • Notification costs equal to 3 times the number of creditors reported at the time of the concordat application,
  • The minimum cost of 7 announcements to be published in the Turkish Trade Registry Gazette, amounting to 1,500.00 Turkish Lira,
  • The minimum cost of 7 announcements to be published on the official announcement portal of the Press Advertisement Agency as determined in the Official Announcement Price Tariff,
  • The cost of 50 registered mail with return receipts for notifications to relevant institutions and organizations,
  • The fee for one expert witness, equal to 3 times the amount specified in the Minimum Fee Tariff for Expert Witnesses,
  • The 5-month fee, calculated on the basis of a minimum of 2,000.00 Turkish Lira, to cover the temporary period of duty for the person appointed as the concordat commissioner, with the fee to be finalized later by the court,
  • 1,000.00 Turkish Lira for other tasks and procedures,
  • 40,000.00 Turkish Lira for bankruptcy expenses for those subject to bankruptcy.

For debtors who are not subject to bankruptcy, the court may decide to reduce the amount of the expense advance listed above.

3- The unused portion of the expense advance will be refunded to the applicant after the judgment becomes final. This refund can be made in two different ways:

  • If an account number is provided by the applicant, the refund will be made electronically by transferring it to the account.
  • If no account number is provided, the refund will be sent as cash-on-delivery through the Turkish Post and Telegraph Organization, with the cost covered by the advance.

You can access the relevant links to the changes mentioned above below: https://www.resmigazete.gov.tr/eskiler/2024/08/20240824.pdf
https://mevzuat.gov.tr/mevzuat?MevzuatNo=40933&MevzuatTur=9&MevzuatTertip=5