Ministry of Treasury and Finance Discusses Payment Process for 131 Liquidated Funds

Following the liquidity crisis experienced at Pusula and Tera Portföy, a critical summit is being held under the chairmanship of Minister of Treasury and Finance Mehmet Şimşek to resolve the grievances of hundreds of thousands of investors in 131 funds decided for liquidation.

Critical Summit Chaired by Minister Şimşek

Technical studies are being discussed under the chairmanship of Minister of Treasury and Finance Mehmet Şimşek with the participation of relevant institutions and organizations.

The meetings address the implementation principles for conducting the liquidation and payment processes in a fair, healthy, and short period.

Liquidity Crisis That Shook the Markets

The capital markets had started to turmoil after Pusula Portföy announced that it had defaulted on fund participation share payments.

Tera Group's announcement that transfer procedures had not been completed and Tera Portföy's default notifications escalated the panic.

CMB Intervention and Liquidation Process

With the decision taken by the Capital Markets Board, 131 funds belonging to 7 companies, including Tera, Pusula, Hedef, and A1 Capital, were liquidated.

To protect the rights of investors, banks were assigned to convert the funds into cash, and a liquidation schedule was determined.

Ongoing Investigations and Arrests

Within the scope of the investigation initiated by the Istanbul Chief Public Prosecutor's Office, high-level names were arrested and sent to prison.

Within the framework of the ongoing judicial investigations, foreign travel ban decisions were implemented against numerous executives.