Foreign creditors holding cheques, promissory notes or bills of exchange issued in connection with Turkish business transactions have access to a powerful collection tool under Turkish law: special execution proceedings on negotiable instruments (kambiyo senetlerine özgü icra takibi). This is a fast-track, document-driven enforcement mechanism regulated mainly by the Turkish Enforcement and Bankruptcy Law and […]
When a foreign creditor starts enforcement proceedings in Turkey and the Turkish debtor objects to the payment order, the enforcement automatically stops. At that point, the foreign creditor has two main legal remedies under Turkish Enforcement and Bankruptcy Law: Both remedies are subject to strict time limits and different evidentiary rules, so choosing correctly is […]
Foreign creditors who have outstanding receivables from debtors in Turkey can use the Turkish enforcement and bankruptcy system to collect their claims. The fact that the creditor is not resident in Turkey, or is a foreign company or individual, does not prevent them from starting enforcement proceedings, as long as certain procedural and jurisdictional requirements […]
Introduction In Turkey, when a debtor fails to fulfill their obligations, creditors have the legal right to recover their claims through the enforcement system.This process is governed by the Turkish Enforcement and Bankruptcy Law (EBL) and is carried out via Enforcement Offices under judicial supervision. Enforcement law aims to protect not only the creditor’s rights […]