Alcatel NV’s Turkish subsidiary Alcatel-Teletas Telekomunikasyon Endustri AS said it is seeking a court order to reorganise its debts; company officials said Alcatel Teletas was unable to pay back loans it obtained from 35 banks to compensate for overdue receivables from the state-owned telecommunications company; all the signs are that the company is insolvent, a victim of Turkey’s economic crisis.
