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 […]
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 […]