ARTICLE · 16 APRIL 2018

Amendments To The Code Of Execution And Bankruptcy

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The Law Amending the Code of Execution and Bankruptcy and Certain Laws numbered 7101 has been published in the Official Gazette dated 15 March 2018 and numbered 30361.

TurkeyInsolvency/Bankruptcy/Re-Structuring

Introduction

The Law Amending the Code of Execution and Bankruptcy and Certain Laws numbered 7101 has been published in the Official Gazette dated 15 March 2018 and numbered 30361 (the "Law").

The Law, prepared on the basis of the recommendations of the Council for the Improvement of the Investment Environment, introduces various amendments to the Code of Execution and Bankruptcy numbered 2004 (the "CEB") the Law of International Arbitration numbered 4686, the Turkish Commercial Code numbered 6102 and the Law on Legal Service numbered 7201.

Possibly the most notable among the considerable suite of amendments introduced by the Law are those concerning pre-insolvency restructuring methods available under the CEB.

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