Payments for A1 Capital, Bulls, and Pardus funds begin on Thursday

Vice President Cevdet Yılmaz announced the eagerly awaited payment schedule regarding the investment funds crisis in the General Assembly of the Turkish Grand National Assembly. It was announced that payments for 17 funds belonging to A1 Capital, Bulls, and Pardus companies will be made on Thursday.

Payment Schedule and Funds

It was officially announced that payments to investors in 17 funds belonging to three companies will begin on Thursday. In this context, investors in the funds of A1 Capital, Bulls, and Pardus companies will receive their payments.

Additionally, it was stated that payments for 16 funds belonging to Atlas company will be made promptly once the necessary collateral is obtained.

Measures Taken by the Government

It was emphasized that judicial and administrative institutions are working meticulously against the problems experienced in capital markets. While legal action has been taken against a total of 220 individuals, it was reported that 85 of these individuals are detained.

In order to prevent the escape of proceeds of crime, the assets, bank accounts, and partnership shares of numerous individuals and companies were confiscated.

No Treasury Resources Will Be Used

It was stated clearly that no Treasury resources will be used for private losses. It was noted that there is no state guarantee in fund markets like the one in the banking system, and payments will be made primarily using fund resources.

It was recorded that revenues obtained from those who acquired unfair gains and from the sales of assets removed from the system will also be used in this process.

Legal Regulations and Expectations

It was stated that the Fund Coordination Board ensures inter-institutional coordination and conducts joint work with the parliamentary group for legal regulations. It was conveyed that the process will accelerate after the legal preparations are completed.

It was indicated that technical preparations have been completed and steps regarding the extraordinary liquidation process will be taken as soon as possible once the law enters into force.