What is Execution Proceeding? What are the types of Execution Proceedings in Enforcement and Bankruptcy?
Execution Proceeding; is the collection of the debtor’s receivable from the debtor by using public power. Two types of enforcement requests can be given, namely execution with a verdict and execution without a verdict.
For execution proceedings with a verdict, proceedings are carried out depending on the decision of the Execution Court. On the other hand, in execution proceedings without verdict, no court decision is required. In other words, the creditor can make a request for execution proceedings without a verdict from the Execution Court.
Which Elements Are Considered While Following Execution with or without a Verdict during Enforcement and Bankruptcy procedure?
In order to send a payment order by the Execution Office, some elements must be requested, based on the follow-up request of the creditor.
- Payee’s address and identity information
- Borrower’s address and identity information
- Receivable amount
- If there is interest on the amount of the receivable, the date on which the interest starts to run
- If there is no promissory note, what is the reason for the debt?
- Preferred way of execution proceedings
- Signature of the creditor and his representative, if any
The important point here is that the creditor demands the receivable in TL. If it is not requested in TL, a payment order cannot be sent by the Executive Manager, and if a payment order has been issued in foreign currency, even if the order is finalized, the creditor requests to receive the receivable in foreign currency at the exchange rate of that day when the maturity date comes.
Get legal support from Antalya lawyer Ceren Topcu İncetaban and her Antalya Law Firm before starting your enforcement proceedings with or without a verdict.
How to Follow an Execution with a Verdict in Enforcement and Bankruptcy?
Since the verdict is the last decision of the court, execution proceedings are initiated directly depending on the court decision. In order to initiate the execution proceeding with a verdict, the court decision must be documented. Without this document, execution proceedings cannot be initiated. If there is no court decision, the peace and acceptance documents prepared in the court, which will replace the court decision, and the notarized promissory notes can be substituted for the verdict, and the execution process can be started.
Contact Antalya Lawyer Ceren Topcu İncetaban and her Antalya Law firm experienced in enforcement and bankruptcy law for your questions such as what is the execution proceeding with a verdict and how it is done.
Where to Apply for Execution Proceedings with a Verdict in Enforcement and Bankruptcy procedure?
There is no authority problem for the execution proceedings with a verdict. By making an application to any Execution Office, the follow-up process can be initiated. In the event that an indefinite judgment is enforced, the debtor has the right to complain to the Execution Court without the need for statute of limitations. Upon the complaint, the Execution Court may annul the decision of execution proceedings with a verdict.
How can the Execution proceeding without a verdict be initiated?
An execution without a verdict is the enforced way of execution foreseen for money and collateral receivables.
- In execution without verdict, there is no need for a court decision, document or proof of the claim.
- In the execution proceedings without verdict, only the receivables arising from money and guarantee are taken.
At the same time, enforcement proceedings without verdict can be made in 3 different ways:
- General lien
- Foreclosure based on bills of exchange
- Execution of leased real estate
In execution proceedings without verdict, the proceedings are stopped, if the debtor objects within 7 days at the latest from the notification of the payment order.
The request for execution proceedings can be done in writing, orally or digitally. If the execution request is made verbally, all necessary information must be provided to the Execution Director. This information is formalized by keeping a report by the Execution Director.
Contact Antalya Lawyer Ceren Topcu İncetaban to get legal support for the initiation of your execution proceedings without verdict and the follow-up of the process.
Can the Debtor submit an Objection against an Execution Proceeding with a Verdict during Enforcement and Bankruptcy procedure?
It is not possible to submit an objection against the existence of the debt in the execution proceedings with a verdict. The reason of this is that the claim is bound to a court decision. In addition, the debtor has the right to file a lawsuit about other objections through the Execution Courts.
The debtor, pursuant to Article 33 of the Enforcement and Bankruptcy Law, has the right to object with a petition within 7 days from the moment of notification of the execution order based on reasons such as the due date of the debt has passed, it has been paid, a certain part of it has been paid. There is a 10-year statute of limitations for the initiation of the execution proceedings with a verdict.
How to File a Case for Annulment of Objection in Enforcement and Bankruptcy?
There are situations that both parties must do or comply with. One of these situations is what the creditor should do after the debtor’s objection.
- The creditor may request the dismissal of the objection to the Execution Court within 6 months.
- The creditor can file an action for the annulment of the objection in the general court within 1 year.
In order for the creditor to file an action for the dismissal of the objection to the Execution Court, it is necessary to act in accordance with Article 68 of the Enforcement and Bankruptcy Law and to have at least 1 of the necessary documents ready.
Among the documents to be prepared by the creditor;
- Ordinary promissory note with accepted signature
- Notarized promissory note
- Receipt or document duly prepared from official offices or competent authorities
With at least 1 of these documents, the creditor can file a lawsuit within 6 months for the objection to be lifted. If it is decided that the objection is unfair, the execution proceeding continues from the place where it was stopped and it is decided that the debtor acted in bad faith, and it is decided to pay the execution denial compensation.
It is very important to get legal support for your cases of annulment of objection or dismissal of objection. Do not hesitate to contact Antalya Lawyer Ceren Topcu İncetaban and her Antalya Law Firm for legal advice on how to object a payment order
How to File a Case for Annulment of Objection in Enforcement and Bankruptcy?
Competent courts are also of great importance. In execution without verdict, the Execution Office is not considered to be definitively authorized. The General Authorized Execution Office is the Execution Office located in the settlement where the debtor is located.
In addition, this authority is not final, and the Execution Office, where the execution follow-up contract is made, is deemed to be authorized. An objection to the authorization can be made within 7 days.
Legal support of an experienced lawyer in Enforcement Law is absolutely needed for the correct functioning of the procedures, the preparation of the petitions in accordance with the law, the collection of evidence, the correct evaluation of the objection periods and the full right to be obtained. In order to get consultancy in execution proceedings and the legal process to work properly, you can contact Antalya Lawyer Ceren Topcu İncetaban to get your rights by making all the transactions about your case in accordance with the law.