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Yuksel looks to postpone scheme vote amid note payment funding talks
By Caroline Salls
Pittsburgh, Nov. 16 – Yuksel Insaat AS asked the High Court to postpone the meeting called for note creditors to vote on the implementation of the company’s scheme of arrangement to Dec. 14 from Nov. 24, according to a news release.
The company said postponing the meeting will allow it to give note creditors more certainty on the payment of funds on the scheme effective date.
As previously reported, Yuksel is in discussions to finalize the funding of the $110 million payment due to note creditors on the scheme effective date. The company said it expects these talks to be completely shortly.
Yuksel Insaat is a construction company based in Ankara, Turkey.
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