Fikret Petrol files for concordat to restructure debts

Fikret Petrol Ürünleri Pazarlama A. Ş., the first distributor of Opet’s ‘Yakıt Kart’, has filed for concordat to restructure its debts. The Istanbul-based company announced the legal proceedings through the Public Disclosure Platform (KAP).

The Istanbul 3rd Civil Court of First Instance has granted a three-month temporary moratorium to allow the company to maintain its commercial operations while developing a sustainable payment plan. During this period, a temporary concordat commissioner committee has been appointed to oversee the process. Under the Bankruptcy and Insolvency Law, new enforcement proceedings against the company are prohibited, and existing proceedings have been suspended.

The court also issued an injunction regarding the company’s letters of guarantee. The maturities of these guarantees have been extended for the duration of the protection period until a final evaluation is made based on the commissioner's report and creditor opinions. Fikret Petrol operates four fuel stations in Ankara and Mersin and provides wholesale fuel sales and logistics services.