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ARTICLE · 18 NOVEMBER 2016

Latest Measures Introduced Within Turkey's State Of Emergency Remove Liability For Banks And Financers

Moroglu Arseven
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Turkey has taken a series of new measures involving companies and public institutions in the wake of the State of Emergency declared on 21 July 2016.

TurkeyFinance and Banking
Moroğlu Arseven
Moroğlu Arseven
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Turkey has taken a series of new measures involving companies and public institutions in the wake of the State of Emergency declared on 21 July 2016. Latest measures include removing criminal liability for banks and financial institutions which provide financial services to closed companies; appointing the Saving Deposit Insurance Fund as a trustee to manage and represent minority shares held by terror-linked individuals and entities; removing personal liability regarding debt payments for appointed trustees and managers; deeming certain property transfers as collusion, as well as discontinuing a range of legal actions or enforcement proceedings as lacking a cause of action, without having to wait for a court hearing date.

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