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ARTICLE · 04 MARCH 2019

The New Dispute Resolution Method For Commercial Disputes: Mandatory Mediation

ELIG Gürkaynak Attorneys-at-Law
ELIG Gürkaynak Attorneys-at-Law
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ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law

ELIG Gürkaynak Attorneys-at-Law is an eminent, independent Turkish law firm based in Istanbul. The...

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The Law on the Procedure for Initiating Execution Proceedings based on Monetary Receivables Arising out of Subscription Agreements was published in the Official Gazette on December 19, 2018.

TurkeyLitigation, Mediation & Arbitration

The Law on the Procedure for Initiating Execution Proceedings based on Monetary Receivables Arising out of Subscription Agreements ("Law No. 7155") was published in the Official Gazette on December 19, 2018. The Law No. 7155 introduces new rules for different legal subject matters, including (but not limited to) the execution and bankruptcy law, concordatum, and mandatory mediation.

The codification method of the Law No. 7155 can be characterized as quite unusual, given the fact that Article 1 of the Law No. 7155 describes the purpose of this law simply as "regulating the procedures and principles for the initiation of execution proceedings based on subscription agreements," whereas the Law No. 7155 also incorporates a number of articles amending various other laws at the same time. To that end, one of the most eye catching modifications brought forth by the Law No. 7155 concerns the Turkish Commercial Code No. 6102 ("TCC") and the Civil Mediation Law No. 6325 ("Law

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