CORONAVIRUS: TIP SHEET FOR BOARDS OF DIRECTORS IN TURKEY

We live in uncertain times, where many companies face challenges brought about by the sudden and wide-ranging economic impact of Coronavirus (COVID-19). Whilst the Turkish government is implementing various measures to relieve certain financial consequences, including the suspension of enforcement proceedings, encouraging banks to postpone loan repayments (as well as making new available credit lines) and deferment of taxes, it is inevitable that many boards face unprecedented situations and challenges ahead. This tip sheet is prepared to give examples of best practice in these difficult circumstances.