03.07.2026 13:20
The Ankara West 1st Commercial Court of First Instance has granted a temporary 3-month concordat period for BabyMall, a baby products chain with 11 stores in Turkey. With this decision, enforcement proceedings against the company have been halted, and concordat commissioners have been appointed. The request for a definitive period will be evaluated at the hearing scheduled for September 29, 2026.
The baby product chain BabyMall, which operates with 11 stores in Turkey, has been granted a 3-month provisional concordat period by the court. While enforcement proceedings against the company have been stayed, concordat commissioners have also been appointed.
COURT ISSUES CONCORDAT DECISION
Ankara West 1st Commercial Court of First Instance decided to grant a 3-month provisional concordat period for Özelcan Babymall Mağazacılık Dağıtım Ticaret ve Sanayi A.Ş. and company owner Ahmet Özelcan.
With this decision, enforcement proceedings against the company have been halted, and new actions are also prevented.
CONCORDAT COMMISSIONERS APPOINTED
The court appointed lawyer Sinan Yazıcı, financial advisor Naci Alkan, and business manager Turan Erol as provisional concordat commissioners to ensure the smooth execution of the concordat process. It was stated that the company's transactions during this period will become valid only after approval from the board of concordat commissioners.
"CONCORDAT MEASURE" STAMP ON CHECKS
According to the court decision, checks presented to the bank after the announcement of the provisional period that are not covered will be stamped with "concordat measure" instead of "insufficient funds." Additionally, while proceedings can be initiated for secured claims, the sale of secured assets cannot be carried out during this process.
7-DAY OBJECTION RIGHT FOR CREDITORS
The court announced that individuals with claims against the company can object to the concordat request within 7 days. According to a report on NTV, creditors can request the rejection of the request by presenting evidence to the court that the conditions for concordat are not met.
HEARING IN SEPTEMBER
The court will conduct the evaluation regarding the definitive concordat period after the provisional period at a hearing scheduled for September 29, 2026. It was learned that the company has a paid-in capital of 30 million lira and a registered capital ceiling of 80 million lira.