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 […]
1. Introduction In international debt recovery, the enforcement of monetary judgments or arbitral awards against foreign debtors often encounters a critical challenge — the absence of readily available assets within the debtor’s jurisdiction. When the debtor possesses company shares or equity interests in Turkish companies, such assets may provide an efficient means of execution under […]
1. Introduction In Turkish enforcement practice, the istihkak davası (third-party ownership claim) plays a critical role in protecting individuals and companies whose property has been wrongfully seized for another’s debts. When a foreign element enters the picture—such as international contracts, foreign documents, or cross-border ownership structures—the complexity of these proceedings increases dramatically. Questions of applicable […]
1. Introduction: The Challenge of Cross-Border Insolvency Globalization has led to corporate structures operating across multiple jurisdictions. When such entities become insolvent, their assets—often dispersed across several countries—raise the question of which insolvency estate has the right to manage and liquidate them.For Türkiye, a jurisdiction with significant foreign investment and trade volume, the authority of […]
1. Introduction In international commerce, monetary obligations are frequently expressed in foreign currencies such as the euro (EUR), United States dollar (USD), or British pound (GBP). When disputes arise, particularly over unpaid debts or performance failures, creditors may seek security measures to protect their interests before or during litigation. Under Turkish law, one of the […]
1. Introduction: Why Provisional Attachment Matters in Cross-Border Debt Cross-border receivables create a predictable enforcement problem: time. The debtor can move funds, restructure assets, route payments through third parties, or empty accounts long before a judgment or arbitral award becomes enforceable. This is exactly the window in which Turkish law offers a powerful interim instrument: […]
1. Introduction In the globalized economy, cross-border secured transactions are increasingly common. Foreign lenders, financial institutions, and investors often seek to establish or enforce security interests — such as mortgages, pledges, or guarantees — over assets located in Turkey. However, the enforcement of foreign security interests (“foreign collateral rights”) in Turkey raises complex legal issues […]
Introduction In global maritime commerce, creditors frequently encounter challenges when enforcing claims against foreign-flagged vessels. Unlike domestic vessels, foreign-flagged ships operate under the jurisdiction of another state’s flag, which raises complex legal issues regarding jurisdiction, enforcement, and security for maritime claims. Ensuring that a claim is effectively secured, enforced, and satisfied requires a thorough grasp […]