Enforcement and Bankruptcy Law
Enforcement and bankruptcy law is a branch of law that protects the rights of creditors and regulates the processes for the restructuring of debtors in the event that debtors cannot fulfill their financial obligations. Enforcement and bankruptcy law in Turkey is regulated by the Enforcement and Bankruptcy Law No. 2004. Below you can find some of the key elements and important concepts of this field:
1. Enforcement Law
– Enforcement law regulates the processes that creditors can follow to collect their receivables from the debtor through court decisions or enforcement proceedings.
– Enforcement Proceedings: The creditor initiates enforcement proceedings by applying to the enforcement court of the debtor’s location. This process is initiated in the event that the borrower fails to pay the debt.
– Foreclosure: Enforcement proceedings on the debtor’s assets. Foreclosure is the process by which the creditor seizes the debtor’s assets in order to collect the debt.
– Concordat: The debtor can request a restructuring of its receivables. In this case, an attempt is made to reach an agreement between the debtor and the creditors.
2. Bankruptcy Law
– Bankruptcy law applies when the debtor’s financial situation deteriorates and he is unable to pay his debts.
– Bankruptcy: Bankruptcy is the inability of the debtor to meet his financial obligations. Bankruptcy proceedings can be filed by the debtor’s creditors.
– The post-bankruptcy process involves the liquidation of the debtor’s assets and the protection of creditors’ rights. Liquidation proceedings are carried out by insolvency officers.
3. Bankruptcy and Enforcement Disputes
– Many disputes may arise between creditors and debtors during enforcement and bankruptcy processes. Such disputes are resolved in the courts.
– Enforcement courts deal with disputes regarding enforcement proceedings, foreclosure proceedings and debts. Bankruptcy courts, on the other hand, deal with bankruptcy cases and concordat claims.
4. Legal Regulations
– Enforcement and bankruptcy law is regulated by the Enforcement and Bankruptcy Law No. 2004 in Turkey. This law includes various regulations in order to protect the rights of creditors and debtors.
5. Particular Considerations
– The initiation of enforcement proceedings has important consequences for the debtor, so it is of great importance for the debtor to protect its rights in this process.
– Debtors have the right to defend and object when enforcement proceedings are initiated. The appeal process, enforcement proceedings may be stopped.
There are different types of lawsuits in enforcement and bankruptcy law, and we provide professional services with nearly 20 years of experience in all of these cases.
As Terlemez Law Firm, some of the services we offer to our domestic and foreign clients within the scope of Enforcement and bankruptcy law with our expert lawyer staff;
- Eviction cases,
- Encashment of the mortgage,
- Mining foreclosure cases,
- Cases of termination of the tender.
- Cases of cancellation of the objection,
- Negative declaratory judgment and restitution cases,
- Bankruptcy and postponement of bankruptcy cases,
- Debt objection and appropriation cases,
- Enforcement and bankruptcy proceedings for the purpose of collecting receivables,
- Cases of eviction and prohibition of intervention,
- Precautionary attachment cases, cases of objection to precautionary attachment,
- Lawsuits arising from lease agreements,
- Enforcement proceedings on the collection of receivables based on current accounts and invoices,
- Enforcement proceedings for the collection of receivables arising from credit, finance, leasing contracts.
- Determination and collection of rights and receivables in third parties
- Advising on the restructuring of debtor companies,
