Executive summary When a Turkish payment institution (PI) or electronic money institution (EMI) fails, the single question that matters for users and investors is: Are customer monies truly bankruptcy-remote? Under Law No. 6493 and CBRT secondary legislation, client funds must be segregated and safeguarded; in principle, they should fall outside the insolvent estate. In practice, […]
1. Legal Framework Foreign creditors can initiate debt recovery and insolvency proceedings in Turkey based on the following key laws: 2. Can Foreign Creditors Pursue Claims in Turkey? Yes.Foreign real or legal persons are allowed to pursue debt recovery proceedings in Turkey either directly or through an attorney. 📌 In practice, engaging a Turkish attorney […]