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Legalixa is an award-winning immigration law firm in Istanbul, Turkey with an exceptional success rate in almost every legal matter we have ever handled. Our Turkish insolvency lawyers represent Turkish and foreign clients in debt recovery cases in Turkey.
Our debt recovery lawyers have a wide range of experience in Turkish insolvency proceedings. We have represented both domestic and foreign clients in numerous insolvency & bankruptcy cases in Turkey.
Our Turkish insolvency lawyers have vigorously asserted creditor’s claims in a wide range of cases involving such debtors as shipyards, biotech companies, real estate developments, and textile manufacturers.
We have successfully represented not only secured creditors, but also lien holders and unsecured creditors. For example, our attorneys have successfully marshaled the debtor’s assets for the benefit of a lien creditor. Our Turkish insolvency attorneys have also represented numerous clients in cancellation actions in fraudulent conveyance actions.
Turkish Insolvency Lawyers & Proceedings
In addition to adversary proceedings, our Turkish insolvency lawyers have also counseled clients on a wide range of insolvency-related issues, including the merits of different types of insolvency proceedings, how best to protect themselves when doing business with a financially troubled entity, and lender liability.
We have also advised clients in connection with purchases of debtors’ assets, tax issues arising from insolvency proceedings, and environmental issues related to acquisitions of debtors’ assets.
Debt Recovery Proceedings in Turkey
Our Turkish insolvency lawyers have substantial experience in providing efficient and useful advice to clients to assist them to recover money owing in Turkey. All debt needs to be scrutinized and assessed and an action plan started to ensure you are not working without appropriate reward. Our lawyers in Turkey can assist you with implementing such an action plan.
Enforcement of Foreign Courts Decrees
According to International Private and Procedural Law, enforcement of court decrees rendered by foreign courts in the course of civil lawsuits in Turkey which are final pursuant to the law of that foreign state shall be subject to the enforcement decision of the competent Turkish court.
Thus we must file an enforcement lawsuit against the debtor in Turkey upon service of the original foreign court decree on parties (both the Plaintiff and the Defendant). Upon the enforcement decision of the Turkish competent court, we can commence execution proceedings before the competent enforcement office to collect the amount of debt.
The Courts of First Instance shall have jurisdiction over enforcement decisions. These decisions shall be requested from the court at the place of habitual residence of the person against whom enforcement is requested if he/she does have a domicile in Turkey, or from one of the courts in Istanbul, Ankara, or Izmir if he/she does not have a domicile or habitual residence in Turkey.
Nevertheless, there is no unity in practice, because some civil courts of the first instance reject the applications owing to lack of jurisdiction and send the file to the relevant commercial, intellectual property, or labor courts.
Reach us for Turkish Insolvency Lawyers
Since its foundation, Legalixa Law Firm has been the choice of numerous clients in Turkey. We’ve always worked differently than other law firms. We are committed to remaining forward-thinking and preparing for the dynamically changing world of debt recovery law.