Share on LinkedInShare on LinkedIn

ARTICLE · 03 MARCH 2009

Developments In Turkish Insolvency Law

Güner Law Office
Explore more from Güner Law Office

The law governing Turkish Insolvency procedures known as the Execution and Bankruptcy Law (the EBL) ("Icra Iflas Kanunu") has in previous years been amended twice and has introduced new procedures for ailing companies. In this article, we will take a look at these procedures.

TurkeyCorporate/Commercial Law
Guner Law Office
Guner Law Office

The law governing Turkish Insolvency procedures known as the Execution and Bankruptcy Law (the EBL) (Icra Iflas Kanunu) has in previous years been amended twice and has introduced new procedures for ailing companies. In this article, we will take a look at these procedures.

1. Background

The EBL has somewhat of a vintage status and most of it dates from 1932. It created a mostly debtor friendly regime which was accentuated by the Turkish judicial system whereby the EBL was even more debtor friendly than had been intended. The Turkish parliament took a hard look at insolvency procedures following the Turkish economic crisis which occurred from 2000 to 2001. The crisis was far reaching and led to a substantial devaluation in the Turkish lira and many corporate bankruptcies. In the light of the experience arising from the financial crises, there was a push to modernise Turkish insolvency laws.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Turkish Competition Law Newsletter – Issue 2026/3

Turkish competition enforcement has entered a phase in which the Authority's most consequential interventions increasingly arrive before, rather than after, a finding of infringement. This Summer 2026 edition covers eight developments spanning digital markets policy, merger remedies, physical access to retail infrastructure, labour market information exchange, AI distribution channels, procedural cooperation obligations and the transition between fining regimes.
TurkeyCorporate/Commercial Law
Paksoy
Paksoy
Article

New Rules On Shareholding Disclosures And Actual Free Float: Assessment Of CMB Bulletin No. 2026/57

The Capital Markets Board of Türkiye (“CMB” or the “Board”), through its principle decision No. i-SPK.15.2 (dated 03.09.2026 and numbered 54/1614) (“Resolution”), has lowered to 3% the minimum shareholding disclosure threshold under the Material Events Disclosure Commu-niqué No. II-15.1 (“Communiqué”). The Reso-lution will apply as from the end of the day on 11.09.2026.
TurkeyCorporate/Commercial Law
Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
Article

Establishing And Maintaining A Business Presence In Türkiye 2026

This article examines the establishment and continuing management of a foreign business presence in Türkiye. It compares subsidiaries, branches and liaison offices, and considers capital, corporate documentation, governance, representative authority, investment reporting, work authorisation and data protection. Judicial decisions concerning corporate organisation and management duties are considered in their relevant context. The analysis argues that the choice of vehicle should follow the proposed activity, ownership arrangements and expected life of the investment. Effective legal preparation connects incorporation with the company's subsequent compliance, financing, decision-making and exit arrangements rather than treating registration as the final objective.
TurkeyCorporate/Commercial Law
ONGUR & PARTNERS
ONGUR & PARTNERS