Yuksel gets High Court approval to postpone scheme vote to Dec. 14

By Mark Reccek

Bethlehem, Pa., Nov. 17 – Yuksel Insaat AS received permission from the High Court to postpone the meeting 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.

As previously reported, 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.

Also, 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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