1) Introduction: why the “foreign third party” factor is not a detail—but the whole case In Turkish enforcement practice, haciz ihbarnamesi (garnishment notices issued under İİK Article 89) are among the most effective tools to reach a debtor’s receivables or assets held by third persons. Many files are collected not by chasing the debtor directly, […]
1) Understanding the Turkish Enforcement Architecture (What You Are “Plugging Into”) Türkiye’s enforcement system is built around enforcement offices (sometimes referred to in English as execution offices) that administer procedural steps: issuing payment orders, processing objections, registering attachments, sending notices to third parties, and coordinating sales. Courts become involved mainly in dispute stages (e.g., objections, […]
1) Why Receivable Attachment Is Often the Fastest Way to Collect from a Foreign Debtor Cross-border enforcement becomes difficult the moment the debtor is outside your physical and procedural reach. You may have a strong claim, a signed contract, even an arbitral award or judgment—yet collection remains uncertain if the debtor’s assets are abroad or […]
I. Introduction Foreign-currency claims are an indispensable element of modern commercial life in Türkiye, particularly given the country’s integration into global trade and finance. However, when such receivables reach the collection stage, creditors often face an invisible yet decisive obstacle: exchange rate risk. The volatility of the Turkish lira and the complex interaction between contractual […]
1) Why “Bankruptcy Spillover” Becomes a Cross-Border Problem Corporate groups are built to operate as a single economic organism while remaining multiple legal persons. That design is efficient: risk can be allocated, financing can be centralized, and operations can be optimized across jurisdictions. But in distress, the same design creates a pressure point: creditors experience […]
1) What “Seizing a Digital Account” Really Means in Turkish Law Clients often describe the goal as “seize the Instagram account,” “freeze the marketplace store,” or “take control of the debtor’s channel.” In Turkish enforcement practice, however, the account itself is rarely the collectible object. The collectible object is usually one of these: So “digital […]
1. Why “procedural discipline” decides the outcome for foreign creditors In Turkey, concordat (konkordato) is a court-supervised restructuring mechanism that can bind creditors under a confirmed plan. For a foreign creditor, the biggest mistake is to treat concordat as a purely substantive debt issue. In practice, concordat is a timeline-driven process: rights exist, but they […]
1) Why Company Shares Matter in Cross-Border Enforcement When the debtor is abroad (or simply difficult to reach), shares in a Turkish company can become one of the most valuable and controllable assets for a creditor. Shares are often: However, turning “the debtor owns shares” into “the creditor collects money” requires mastering two intertwined regimes: […]
1) Key Concepts: Foreign Insolvency vs. Turkish Enforcement 1.1 What is a “Foreign Insolvency Proceeding”? A foreign insolvency proceeding can include: In most jurisdictions, such proceedings impose a stay on individual enforcement actions (a “moratorium”) and consolidate creditor claims into a collective process. 1.2 Turkish Enforcement Actions and Attachments (İcra Takibi & Haciz) In Türkiye, […]
1) Why Turkey Treats Foreign Insolvency Differently: Territorial Logic in Practice In cross-border insolvency, there are two broad philosophies: Turkey’s system, in daily practice, behaves much closer to territoriality. This does not mean Turkey ignores foreign insolvency. It means Turkey tends to require that foreign outcomes be converted into Turkish-law effects before they can control […]