Debt Enforcement Tips In Turkey

1 A foreign creditor seeking enforcement in Turkey

A foreign creditor has the right to initiate a lawsuit or an enforcement proceeding against a debtor in Turkey even if there is no reciprocal agreement between Turkey and the creditor's own jurisdiction. However, in such a case the foreign creditor will have to provide "security" to the court to guarantee the payment of the relevant court expenses and potential damages the debtor may sustain if the creditor fails in proving its case. The amount of such security is usually determined by the court to be a certain percentage of the disputed amount. If a reciprocal agreement exists between Turkey and the foreign creditor's own jurisdiction, the foreign creditor may not be required to provide security when initiating a lawsuit or an enforcement proceeding against the debtor in Turkey.