Introduction
Beyond any doubt, England is the trendsetter in the finance
sector, ranging from Islamic finance to conventional finance. The
mechanisms developed by England have been tested many times in
various types of projects, deals and countries, serving to
strengthen such mechanisms. As a result, the finance providers
prefer English law, and most countries use English law documents as
the basis to establish their own systems. In these circumstances,
certain obstacles may arise in legal infrastructure and practice
while implementing the mechanisms that belong to the Anglo Saxon
legal system, such as England, to a civil law legal system, such as
Turkey1. For instance, the notion of
Trust2 under English law has not been
recognised by civil law countries, such as Turkey. Alternative
solutions have been adopted in this respect. In this newsletter
article, among other alternatives, the parallel debt method, as
well as its legal nature, will be set out, in a nutshell.
