Cevdet Yılmaz Announced the Fund Liquidation Process and Payment Schedule
Within the scope of the schedule awaited by fund victims, the first payments have reached the beneficiaries, and all details regarding the liquidation process have become clear.
Vice President and Head of the Fund Coordination Board Cevdet Yılmaz shared the roadmap regarding the fund liquidation process. Accordingly, while the first payments have started for thousands of investors in 17 funds, the final liquidation process is projected to be completed within 5-6 months.
First Payments and Process Schedule
The distribution of initial payments to 43,643 investors in 17 funds has begun. Officials announced that the final liquidation process will be completely finished within the next 5-6 months.
Treasury Resources and General Principles
In the statements made, it was emphasized that Treasury resources will under no circumstances be used for private losses. It was stated that fair distribution to investors in proportion to their shares is the most fundamental principle.
Systemic Risk Assessment
It was clearly stated that there is no systemic risk in the financial markets. It was conveyed that the share of funds in liquidation within household assets is limited.
Payment Calculation Method
A special algorithm was prepared within the Central Registry Agency to calculate the payments. The amounts due to the rights holders were clarified in line with the price information received from Takasbank.
Upper Limit for Interim Payments
It was decided that the interim payments to be made will be a maximum of 1 million lira. Unwithdrawn amounts within the system will be paid within the framework of this upper limit.
Bank Assignments
Ziraat Bank and İş Bank were assigned for the management of companies and funds taken into the liquidation process. İş Bank manages six funds under the TERA scope, while the remaining funds will be tracked by Ziraat Bank.
Legal and Judicial Proceedings
Within the scope of ongoing investigations, legal proceedings were initiated against numerous individuals. It was noted that a certain number of suspects are detained and arrest warrants are being enforced.