Collection of receivables is one of the most common legal problems in commercial and individual relationships. A creditor who wants to collect his receivables from a debtor who does not pay his debt on time can achieve this goal by utilising the legal power of the state. This legal way is called “enforcement proceedings”. While...
What is Concordat? Last Exit Before Bankruptcy for Companies in Financial Distress Due to economic fluctuations, sudden changes in market conditions or managerial errors, even the healthiest of companies may occasionally fall into financial distress and become unable to pay their debts. In this case, the Turkish legal system provides an important mechanism to protect...
5 Key Legal Differences Between Cheque and Promissory Note: Secure Your Receivables Cheques and bills (popularly known as promissory notes) are among the most frequently used payment and collateral instruments in commercial life. Both of them are “negotiable instruments” regulated under the Turkish Commercial Code (TCC) and are documents subject to certain formal requirements, the...
A negative determination lawsuit is a type of lawsuit filed to determine that a right or legal relationship does not exist. It is a request for a determination that there is no debt related to an execution proceeding that has been opened or is likely to be opened in the future. In order to file...
Cancellation of disposition lawsuit; It is a type of lawsuit filed by the creditor, who cannot collect his receivable through execution proceedings, against the debtor and the 3rd person who took over the property in order to request the cancellation of the disposals regarding the movable and immovable properties made by the debtor in the...
In the Law, the provisions regarding the lessor’s termination of the lease agreement and the direct eviction of the lessee are regulated under two main headings. These are; eviction of the tenant through notification and eviction through litigation. Termination of the lease agreement by notification: The lease agreement can be terminated by giving notice at...
The cancellation of the tender is a complaint for the cancellation of the illegal tender made by the execution directorate. The tender must be carried out in accordance with the law from the preparation stage. Otherwise, interested parties may request the cancellation of the tender from the Enforcement Law Court. These interested parties can be...
The word “reclaim” literally means to give back. The lawsuit for recovery is the lawsuit filed by the person who pays the enforcement debt under the threat of forced execution, although he is not a debtor, to recover it from the person who appears as a creditor in the proceedings. If no collateral is deposited...
Execution is the process of seizing the assets of a debtor person by a court decision in order to collect the receivable of a creditor. The enforcement action ends if the debtor pays the debt. However, if the debt is not paid, the enforcement process continues. The execution process starts with a court decision. The...
A rental agreement is an agreement between the tenant and the landlord. This contract allows the tenant to live in the landlord’s property for a certain period of time and requires payment in exchange for a certain fee. In some cases, however, either the tenant or the landlord may wish to terminate the rental agreement....
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