Execution & Bankruptcy Law
As an İzmir debt collection attorney, we provide legal support in initiating execution proceedings, collecting receivables, actions for annulment of objection, attachment procedures, and bankruptcy, concordat and debt restructuring processes. Yücesoy Law & Legal Office (Att. Mehmet Yücesoy, İzmir Bar) is located at İkbal-1 Business Center, Konak, İzmir; close to the İzmir Courthouse (Bayraklı), serving across İzmir. Contact/WhatsApp: +90 553 935 71 24.
Execution Proceedings and Debt Collection
Timely and complete collection of receivables is vital for the sustainability of commercial life. As an İzmir execution attorney, we provide legal support to our clients in execution without judgment, execution with judgment, execution proceedings based on negotiable instruments (checks/promissory notes) and precautionary seizure processes.
Types of Execution Proceedings
Depending on the source of the receivable, execution without judgment, execution with judgment or attachment through negotiable instruments (checks, promissory notes, bills of exchange) is initiated, and your receivable is collected quickly by determining the debtor's assets.
Bankruptcy and Concordat
We provide consultancy on bankruptcy processes for companies and individuals who are unable to pay their debts, ensuring equal distribution among creditors, filing concordat applications and following up on precautionary decisions.
Precautionary Seizure and Injunction Decisions
We provide fast and effective legal support to our clients in obtaining precautionary seizure and precautionary injunction decisions for securing receivables, implementing these decisions and defending against objections. Particularly in commercial cases, the protection of evidence and prevention of the debtor's assets from being transferred are of critical importance.
Debt Restructuring and Settlement Processes
We provide legal consultancy services in the resolution of disputes between debtors and creditors through out-of-court methods, preparation of installment agreements and debt restructuring processes. We also represent our clients in the preparation of concordat projects, participation in creditors' committee meetings and follow-up of court processes.
Collect Your Receivables
Contact us immediately to initiate execution proceedings or get support on receivables management.
Frequently Asked Questions
How is an execution proceeding initiated?
An execution proceeding begins when the creditor files a proceeding request with the competent execution office. Depending on the nature of the receivable, execution without judgment, execution with judgment, or execution specific to negotiable instruments (check/promissory note/bill of exchange) is chosen. The execution office sends a payment order to the debtor; if the debtor does not pay or object within the legal period, the proceeding becomes final. In İzmir, we provide legal support in execution office procedures and preparing the proceeding request.
What happens if the debtor does not pay (attachment)?
If the debtor does not pay the debt even though the payment order has become final, upon the creditor's request, attachment may be applied to the debtor's assets. Real estate, bank accounts, vehicles, salary, and rights and receivables held by third parties may be attached. Attached goods are sold through execution and the receivable is collected from the proceeds. Conducting the process in accordance with procedure prevents loss of rights.
What is an action for annulment of objection?
In execution without judgment, if the debtor objects to the payment order within the legal period, the proceeding stops. The creditor may continue the proceeding by filing an action for annulment of objection based on the documents at hand. If the action is accepted, the proceeding resumes where it left off, and if conditions are met, execution denial compensation may also be awarded against the debtor. It is important that the action be filed on time and with the correct evidence.
Can a salary or bank attachment be objected to?
Yes. In salary attachment, as a rule no more than one quarter of a worker's or civil servant's salary may be attached; alimony receivables are an exception to this limit. Complaint and objection remedies may be pursued before the execution court against attachments that are contrary to procedure or exceed the limit. For some incomes such as pensions, there are special situations where the debtor's consent is required. Each case must be evaluated according to its own circumstances.
What do bankruptcy and concordat provide for a company unable to pay its debts?
For companies and individuals who become unable to pay their debts, the bankruptcy process ensures equal distribution among creditors. Concordat, on the other hand, gives the debtor the opportunity to restructure debts and reach settlement with creditors under court supervision; during the process, proceedings may stop through interim moratorium and precautionary decisions. We provide consultancy in preparing the concordat project and in creditors' committee processes.