Yuksel gets OK from High Court to postpone scheme vote to Jan. 25

By Mark Reccek

Bethlehem, Pa., Dec. 11 – Yuksel Insaat AS has been granted approval by the High Court to move the meeting date for note creditors to vote on the implementation of the company's scheme arrangement to Jan. 25 from Dec. 14, according to a Friday news release.

The release said the scheme meeting is now scheduled for 6 a.m. ET on Jan. 25. Also, voting proxy forms are now due by 12 p.m. ET on Jan. 22.

According to the release, existing votes are valid unless revoked by the note creditors.

As previously reported, the company said it did not expect the note repayment funds to be in place to meet the previous time frame of the scheme.

The company also said additional work was needed to finalize the required financing documentation.

Yuksel Insaat is a construction company based in Ankara, Turkey.

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