Turkey’s first cosmetics company Hunca’s concordat case has been decided

Hunca

Turkey’s first cosmetics company Hunca’s 3-year-long concordat case has been decided.

The court accepted Hunca’s request for concordat and ruled that the debt exceeding 150 million liras be paid to the creditors in 48 installments.

According to the news in halktv.com; Turkey’s first cosmetics company Hunca, whose foundation was laid by Adnan Hunca in the late 1960s, entered a financial bottleneck 3 years ago. Under the pressure of foreclosure, Hunca Kozmetik AŞ, Hunca Ambalaj San. AŞ and company partners Tunçer Hunca and Zeynep Hunca requested concordat.

In the case held at the Istanbul 3rd Commercial Court of First Instance, some of the creditors stated that they did not approve the approval of the concordat project.

The court accepted the concordat requests of Hunca Kozmetik AŞ and Hunca Ambalaj and 2 partners of these companies. The debt exceeding 150 million liras will be paid in 48 installments. The first installment payment will be made on February 25.

Meanwhile, according to the case file, Hunca’s most valuable asset is its factory in Çerkezköy, Tekirdağ. According to the report included in the file, the value of this asset is 424 million TL.

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