The Savings Deposit Insurance Fund (TMSF) was appointed trustee of Destek Finans Faktoring under an Oct. 7 ruling by the Istanbul 3rd Criminal Judgeship of Peace, according to a filing with the Public Disclosure Platform (KAP).
The TMSF named Cemal Okumuş chairman, İrem Soydan Güler deputy chairman and Serdar Karakuş, Gönül Polat and Kenan Alpdündar as board members, with Alpdündar also appointed general manager. The company said its commercial activities continue without interruption.

The move follows a Sept. 30 decision by the Banking Regulation and Supervision Board (BDDK) linked to the investment fund investigation.