Share on LinkedInShare on LinkedIn

ARTICLE · 30 OCTOBER 2024

Execution Proceedings Pertaining To Commercial Papers And Bills

Sakar Law Office
Sakar Law Office
Contributor
Sakar Law Office

Sakar Law Office

Sakar is a client and solution oriented, investigative and innovative law firm based in Istanbul....

View firm profile
Explore more from Sakar Law Office

Commercial papers and bills are documents that have an essential place in commercial relations and provide a secure way of securing debts.

TurkeyInsolvency/Bankruptcy/Re-Structuring

Commercial papers and bills are documents that have an essential place in commercial relations and provide a secure way of securing debts. The Execution and Bankruptcy Code (EBC) regulates two types of methods pertaining to commercial papers and bills as execution and bankruptcy, which allows creditors to obtain their rights in a swift manner.

Article 167 of the Execution and Bankruptcy Code: A creditor whose receivable is based on a check, promissory note or bill of debenture payable at sight, even if the receivable is secured by a pledge, may proceed by way of attachment according to the special procedures in this section or by way of bankruptcy if the debtor is a person subject to bankruptcy.

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.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from