08.03.2026 16:53
As a result of the lawsuit against Green Real Estate Investment Trust, the company was declared bankrupt. The company was particularly in the spotlight due to the Innovia 4 project. Despite thousands of apartments being sold in the project, it was stated that the constructions could not be completed and the title deed transfers could not be carried out.
The court issued a bankruptcy decision in the case concerning Green Real Estate Investment Trust.
The Bakırköy 1st Commercial Court ruled for the company's bankruptcy in the 12th hearing and decided that the file would be processed within the framework of enforcement and bankruptcy proceedings.
The company had been in the spotlight for a long time, especially due to the Innovia 4 project. It was stated that despite thousands of apartments being sold in the project planned to be implemented in Esenyurt, the constructions could not be completed and the title deed transfers could not be made. For this reason, many home buyers expressed that they were experiencing grievances.
CONCORDAT REQUEST REJECTED
The rejection of the concordat case filed by the company to restructure its financial structure was a development that accelerated the bankruptcy process.
In the expert reports prepared regarding the company's financial situation within the scope of the case seen at the Istanbul Anatolian Courthouse, it was stated that the debt burden exceeded 11 billion lira.
After the court's decision, the file was sent to the Bakırköy 1st Enforcement and Bankruptcy Directorate.
During the liquidation process, the sale of the company's assets and the payment of receivables will be carried out by this directorate.
NEW PROCESS FOR HOME BUYERS
With the bankruptcy decision, the rights holders who purchased apartments from the projects will need to apply to the bankruptcy office to declare their receivables.
It is expected that the decision given for the company, which has been operating in the sector for many years and was established in 1993, will initiate a new phase in the legal process of the housing victims.