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Canadian Defense Firm Goes BANKRUPT Over Embargo on Turkey

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Beschreibung

A Canadian defence company has gone bankrupt due to an arms embargo Ottawa imposed on Turkey in response to Ankara’s military operations in Syria and Azerbaijan.

Telemus Systems Inc filed for bankruptcy last August because it lost its primary customer, Turkish Aerospace Industries (TAI), following an arms embargo imposed by the Canadian government in 2020, according to a report prepared by the trustee KPMG Inc.

The company was selling a wide array of electronic intelligence and electronic support systems to the Turkish customer for a military drone known as TAI Anka.

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