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İcra ve İflas Hukuku
Enforcement and Bankruptcy Law is a branch of law that regulates the processes by which creditors collect their receivables and debtors pay their debts. This branch of law makes regulations by examining the relations between creditors and debtors, debt collection processes, bankruptcy situations and the consequences of bankruptcy.
It basically includes two main concepts:
1. Enforcement Law:
– Enforcement Procedures: Regulates the process by which the creditor collects its receivables from the debtor using legal instruments such as a court order or a notarial act.
– Enforcement Courts: Determines the courts that administer enforcement proceedings and the jurisdiction and duties of these courts.
– Enforcement Proceedings: Refers to the proceedings of the creditor on the debtor through the enforcement office in order to collect the receivable determined by the court decision.
– Enforcement Legal Procedures: It regulates the enforcement proceedings carried out in enforcement offices.
2. Bankruptcy Law:
– Bankruptcy Phase: Refers to the situation where the debtor declares that he/she is in financial difficulty and is unable to pay his/her debts.
– Declaration and Process of Bankruptcy: The declaration of bankruptcy by the debtor and the initiation of the bankruptcy process are among the subjects of bankruptcy law.
– Bankruptcy Commissioner and Bankruptcy Estate: It regulates the processes of evaluating the assets of a bankrupt person and allocating them to the creditors.
– Abolition of Bankruptcy or Liquidation: It includes the processes of exiting the bankruptcy situation or terminating the bankruptcy completely.
Execution and bankruptcy law aims to maintain a balanced relationship between creditor and debtor. This branch of law includes regulations to ensure that the debtor is fairly discharged from his or her debts while protecting the rights of the creditor. These processes, which differ according to the domestic legal regulations of each country, are usually carried out through courts and relevant legal bodies.
