Cevdet Yılmaz on Fund Liquidation and October Payment Evaluation
Vice President Cevdet Yılmaz announced that a rapid liquidation decision was made to prevent developments in the fund market from affecting the broader system, and payments are planned following the legislative process in October.
Vice President Cevdet Yılmaz stated that a rapid liquidation process was pursued to ensure that negative developments in the fund market do not harm the overall system, and announced that payments are evaluated to be made in October following the legislation expected to pass in Parliament.
Rapid Liquidation Decision in the Fund Market
Making statements regarding the fund investigation, Vice President Cevdet Yılmaz reported that a very rapid liquidation process was chosen to prevent negativeities experienced in a certain area of the market from harming the general structure. He emphasized that this process is administratively audited by the State Supervisory Council.
Number of Investors and Liquidated Companies
Stating that with the decisions expected to pass in Parliament, the potential number of investors in the extraordinary liquidation process will drop below 100,000, Yılmaz noted that 46,000 people have entered the liquidation process through ordinary methods. He conveyed that A1 Capital, Bulls, and Pardus companies have been liquidated, 3 out of a total of 7 companies have separated, and four companies remain.
Payments and Legal Responsibilities
Emphasizing that public resources will definitely not be used during the liquidation process, Yılmaz noted that resources obtained from the assets of individuals who engaged in unlawful behavior and gained unfair profits will be used for payments. He also stated that the return of unfair gains will not eliminate legal responsibilities.