The Inanlar Instruction Company was one of the biggest Instruction Company in Turkey, which has a 50-year-old history in making buildings around the country with almost 220 building projects. Company’s boss, Serdar Inan, declared bankruptcy after that banks started to find a way to get the money back. The debt of Inanlar Company is 215 million Turkish Liras as Banks said.
There are some ongoing instructions
After declaring the bankruptcy wondered what investors and customers will do. There are 12 projects in Istanbul’s famous places such as Bagdat street, Halkali, Çekmeköy, Zekeriyaköy, and Beylikdüzü. In Beylikdüzü, there are 149 houses and 44 shops and because of the bank debt, some completed projects cannot be delivered to the owners.
According to the specialists, households should apply courts for houses to be examined properly, after this process, if the instruction occurs 90 percent finished, then there is no turning back from the contract but money can be claimed, but if the instruction level is under 90 percent then all the contracts can be canceled.
The situation of the buyers is more complicated. Specialists claim that if buyers fulfilled all of their duties if the building is already finished, the house is delivered, and all the price is paid, then the buyer has right to stay in the house and no one will say the contract is non-valid anymore.
What is going to be next
It is believed that after bankruptcy is accepted then a case of bankruptcy will be executed, all the debts will stay in pay queue. Court will give the priority to government taxes then banks get the payment later workers and at last other debts will be paid.