Restructuring as a Way to Improve the Financial Situation in Capital Stock Companies

Because of unexpected changes in economic situations, capital stock companies that can carry their economic entities may be faced with danger to stop their activity because of they cannot afford to pay promptly paid debts. This danger threatens the workers who are faced with the situation of being unable to receive their money as much as debtors. This threat effects legal and national economy. In the situations like this, providing them to continue their economic lifes with restructuring the capital stock companies that have an opportunity to continue their economic entity, is to the advantage of everybody. Restructuring of capital stock companies and cooperatives with compromise way,is an institution that is accepted in Turkish law, in 2003. This institution based on the thought of providing to continue their activities in the situation of saving this company is possible, instead of deciding bankruptcy of company that is improved in last years in the world and is in financial straits. Capital stock company or cooperative that is in financial straits compose with majority of creditors who have an amount of credits that are said in law, about restructuring debts. System works under the surveillance of court and acceptance or refuse require interference of judicial body. Under this heading, process of delaying bankruptcy, conditions and the way of practising will be explained.