Our office provides advocacy and consultancy services to domestic and foreign companies and natural persons to collect their receivables in Turkey. Our main principle is to ensure our client to obtain his receivables in the fastest and effective manner with the lowest cost.
Our staff consisting of legal experts provide consultancy and legal services to corporations, institutions and individuals in the performance of all kinds of arrangement of bankruptcy procedures, execution and bankruptcy procedures, arrangement of bankruptcy proceedings, litigation of execution proceedings and actions, debt collection, attachment, provisional attachment, pledge and mortgage, participation to meetings to the advantage of debtor or creditor and litigation of the actions for bankruptcy petition and suspension.
All Arrangement of Bankruptcy Procedures, Initiation of Executive Proceedings at the Enforcement Office with the Executive Proceedings Ways such as Attachment, Collecting Receivables Method Pertaining To Commercial Papers and Bills, Foreclosure of Chattel Mortgage and Mortgage, Collection of Check and Bill of Exchange and Evacuation of Leased Real Property.
It involves the collection of a debt by force in order to ensure that creditors collect their debts by government’s force against the debtors who fail to settle their debts in a timely manner and at their will.
According to the Execution and Bankruptcy Law, creditors may apply to the option of general attachment for their monetary debts (in TL or foreign currency) or secured debts. Creditors don’t need to have a document to apply to the option of general attachment; the creditors who have an ordinary bill, a notary document containing a monetary debt acknowledgment or a certificate showing a monetary debt as duly issued by governmental agencies or competent authorities based on their power may make an application. The payment term in general attachment has been determined to be 7 days as from the service of the payment order to the debtor and the debtor may raise an objection against the execution proceeding within 7 days following the service of the same to him on the basis of three reasons. These reasons are listed in the law as an objection to power, objection to signature and objection to debt. The debtor may raise an objection for the execution proceeding within 7 days based on one or some of these reasons by going to respective the Execution Office.
Creditors may apply also to the option of attachment specific to bills of exchange for the collection of their debts related to a bill of exchange (bond, policy and check). The payment term for the attachment intended for bills of exchange is 10 days differently from the general attachment and the period for submitting a declaration of property is 10 days differently from the general attachment. Another different point from the general attachment is that the debtor may raise an objection for the debt and signature not in the execution office but in Enforcement Court within 5 days.
If the mortgage agreement statement does not contain an unconditional monetary debt acknowledgement, the relief applicable for the creditor is an execution proceeding without judgement by way of mortgage liquidation. A payment order is sent to the debtor in the execution proceeding without judgement by way of mortgage liquidation pursuant to Article 148 of the Execution and Bankruptcy Law. An execution proceeding with judgement by way of mortgage liquidation, on the other hand, may be performed in two methods. The first method is an execution proceeding with judgement if the debt or mortgage right or both are ascertained in a judgement or a document in the nature of a judgement whereas the second method is an execution proceeding with judgement if the mortgage agreement statement contains an unconditional monetary debt acknowledgement.