Parliament Introduces Wide Sweeping Amendments To The Enforcement And Bankruptcy Code

A new legislation titled The Law Amending the Enforcement and Bankruptcy Code and Certain Laws ("New Amendment") has been published in the Turkish Official Gazette on 30 November 2021 and entered into force on the same day. The New Amendment inter alia introduces an extensive revision of the Enforcement and Bankruptcy Code ("Code") in terms of attachment and sale procedures as well as widening the authority of the enforcement courts. This client alert aims to provide a general overview of the revised rules of enforcement.

1. Authority To Render Suspension of Enforcement Decisions

Previously, an application to suspend the enforcement of a court judgment pending appeal had to the made to the Regional Court of Appeal or the Court of Cassation. This was criticized for adding to the already heavy workload of the appellate courts and causing delay to a simple application that could otherwise be addressed swiftly. The New Amendment responds to such criticisms and