TODAYSZAMAN.COM – Opinion poll company’s shares confiscated

Opinion poll company’s shares confiscatedShares in a company that runs the ANAR Ankara Social Research Center, an opinion poll company which is known for the major research it conducts before elections, were confiscated on Feb. 27, according to a report on Tuesday by the Hurriyet daily.

The confiscation was done due to the debts owed by the YimpaI Holding Company to two creditors, who sued the company at different times. Courts handling the two cases ruled that YimpaI should pay its debts.

However, there were too many confiscation rulings already in existence against the companyand#39s real estate properties which had priority over the more recent claims. This led to the lawyers representing the two creditors turning to companies which are owned by YimpaI.

One of these companies was Atlas Nehir Communications, which holds 99.4 percent of ANARand#39s shares.

The shares are expected to be sold through normal legal procedures. However, YimpaI is entitled to object to the confiscation within seven days, according to Turkish law.

If the company does not object, then the shares will be sold.The confiscation comes as Turkey prepares for general parliamentary elections in June.

SOURCE: Today’s Zaman