Bank Asya lawyers call upon B Group shareholders to join against seizure

Bank Asya
Bank Asya


Date posted: June 25, 2015

YELDA ATAÇ / ISTANBUL

Publicly traded Islamic bank Bank Asya’s owners have launched 100 cases against the seizure by regulators, with lawyer Süleyman Taşbaş emphasizing that lawsuits can also be filed on behalf of the 18,000 shareholders corresponding to the B Group shares.

The total number of cases filed against the seizure of the bank in late May and the management overhaul in February has now reached 100, with the legal team of the A Group shareholders demanding the return of the bank’s operations and the management. The Banking Regulation and Supervision Agency’s (BDDK) orders led the Savings and Deposit Insurance Fund (TMSF) to first take over the bank’s management on February 3rd and then banking operations of the lender on May 29th.

Speaking to Bugün daily, Taşbaş said that the number of cases may reach 110 with the main case file reaching 500 pages, pointing out that the B Group shareholders will also have the opportunity to file cases until the legal deadline expires in the next 35 days. In a public call out to the 18,000 B Group shareholders, Taşbaş said “If individuals want to prevent any abuse of their rights that may come in the future, they have to open cases.”

Taşbaş expressed hope that the courts will act objectively in reviewing the cases. Bank Asya had long been subject to political attacks prior to the measures imposed by the BDDK, with President Recep Tayyip Erdoğan even stating that the bank “had already failed” despite the fact that the publicly traded Islamic lender had one of the best capital adequacy ratios of the sector. Defamatory rumors published by pro-government press over the past year and a half have been challenged, yet remain unpunished.

Süleyman Taşbaş also said that a criminal complaint will be filed with the prosecutors against the bureaucrats working at the regulatory agencies who took part in the seizure of the bank and its management.

The Bank Asya shareholders’ lawyer reiterated that the February 3rd takeover of the bank’s management – on the grounds that it had disclosed insufficient information pertaining to its founding shareholders – was neither justifiable nor true.

“Bank Asya had achieved more transparency than the rest of the banking sector. We have stressed this fact over and over again and have made strong arguments against the issues underlined by the BDDK. Therefore we are hopeful of a positive outcome,” he said in a prior statement to the press on Tuesday. Taşbaş reiterated that the regulator had not been able to report any illegal activity by the bank, adding “there is no way to mask the illegal measures taken against the bank.”

The February 3rd management takeover occurred when the Banking Regulation and Supervision Agency only processed documentation corresponding to the ownership of 37 percent of the shares instead of the 53 percent which had been submitted. Even though more than 90 percent of the documents have since been completed and submitted, management still has not been handed back.

The May 29th seizure proved even more scandalous, with TMSF President Şakir Ercan Gül himself recognizing the bank’s strong financials in a statement to a Turkish news station on June 1st, “The bank’s assets are positive. We will not be touching shares either belonging to the owners or those which are publicly traded.”

Source: BGNNews , June 25, 2015


Related News

WSJ, Judiciary, Gulen Movement, and the Government

The news I read in the Wall Street Journal (WSJ) took me by great surprise. Supposedly, (former Gen. Staff) Ilker Basbug’s imprisonment for life was a message from the Gulen Movement to Erdogan, saying, “Beware! You cannot seek resolution on the Kurdish issue without our permission.” The claim that there was an organizational grouping of members of […]

Erdogan’s endless legitimacy crisis

Erdogan, who is avoiding dealing with the corruption charges, cannot preserve his government on the dead-end street he has entered.

Draft law on prep schools

The first adverse effect is related to unemployment. The AKP did not keep its promise to provide jobs at public institutions to all the prep school teachers who are not hired by the new private schools. Only teachers with six years of experience will have the chance of being hired at public schools. Thus, tens of thousands of prep school teachers will definitely lose their jobs since only the large, well-established prep schools can take the financial risks of re-establishing themselves as a new private school.

‘African wave’ makes splash at İstanbul summit

CUMALİ ÖNAL, İSTANBUL The second day of a global trade and investment summit in İstanbul saw increased interest from African companies in Turkish markets, with some major deals in the works. Organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON), the World Trade Summit opened its doors to visitors from around the world on […]

Minister: Turkish gov’t racks up $5 bln in confiscation of Gülen-linked properties

The value of immovable properties including dormitories, real estates and schools that the government has confiscated as part of its clampdown against Gülen movement so far, totals around TL 15 billion or $4.9 billion, according to Environment and Urban Planning Minister Mehmet Özhaseki.

MP close to Gülen quits ruling AKP, slams accusations against Islamic scholar

İşbilen became the seventh member to resign from the AKP since the massive graft scandal went public on Dec. 17 and the ninth since the test prep school row that created the rift between Gülen’s Hizmet (Service) movement and the government. The lawmaker, who is known for his closeness to the movement, said he has known Gülen for more than 50 years and has never heard such harsh words being directed against him.

Latest News

Fethullah Gülen’s Condolence Message for South African Human Rights Defender Archbishop Desmond Tutu

Hizmet Movement Declares Core Values with Unified Voice

Ankara systematically tortures supporters of Gülen movement, Kurds, Turkey Tribunal rapporteurs say

Erdogan possessed by Pharaoh, Herod, Hitler spirits?

Devious Use of International Organizations to Persecute Dissidents Abroad: The Erdogan Case

A “Controlled Coup”: Erdogan’s Contribution to the Autocrats’ Playbook

Why is Turkey’s Erdogan persecuting the Gulen movement?

Purge-victim man sent back to prison over Gulen links despite stage 4 cancer diagnosis

University refuses admission to woman jailed over Gülen links

In Case You Missed It

Kimse Yok Mu establishes town in Pakistan

US Court Dismisses Turkey-backed Lawsuit against Fethullah Gülen

Pro-gov’t dailies call Japanese foundation ‘parallel’ to denigrate award for Gülen

Turkey Coup: Erdogan Uses Stalinist Measures To Crack Down On Education

Heightened anxieties in Kosovo after arrest of ‘Gulenist educator’

Turning wedding excess into act of charity

Australian Catholic University Gulen Chair Launch

Copyright 2023 Hizmet News