AN OVERVIEW OF EXECUTION PROCEEDINGS WITHOUT ANY ENFORCEABLE TITLE IN TURKEY AND THE REQUIREMENTS TO CREATE FORMAL EVIDENCE

The Turkish Execution and Bankruptcy Law (“EBL”) contains important provisions for banks and other financial institutions, entitling them to summary proceedings for the recovery of unpaid loans, provided that certain conditions are fulfilled. In this newsletter, we focus on execution proceedings that can be initiated without any enforceable title under Turkish law, with a focus on the possibility to initiate summary proceedings in order to lift objections to payment orders filed by debtors. We aim to provide information on what banks and financial institutions must do in order to have the required documentation available for use in the future.