Following enforcement proceedings, the payment order is notified to the debtor and, depending on the type of enforcement, may be processed after the statutory periods have elapsed. After the debtor has been pursued, the creditor may transfer the mortgaged assets to another party or take other actions. For example, the debtor may sell their registered home or car, withdraw money from their bank accounts, sell shares on the stock exchange, and convert valuable and saleable movable property into cash.
To prevent the seizure of goods at the border, an individual foreign decision must be obtained before enforcement proceedings are initiated against the debtor. In general, seizure is applied to prevent the debtor’s assets from being lost, to ensure the payment of debts or fulfillment of existing commitments, and to prevent the debtor from escaping according to court decisions; all of this protects the debtor from possible losses from creditors, and a deposit of assets can be provided as collateral; this is also a type of fund seizure.
In order for a foreign obligation decision to be issued against the debtor, the claim must not have been secured through legal proceedings. For example, if a bank fails to pay the debt on a legally sold house or fails to pay the debt on a heavily mortgaged car,
no obligation decision can be issued against the debtor. The second condition for claiming the necessary lien is that the claim must be due. If credit permission has not been granted, no obligation can be claimed.
The obligation is claimed by filing an application with the court of first instance or the commercial court of first instance. This case is examined on the file without the need for a hearing, and a decision is made on the existence of the conditions. An urgent foreign obligation decision is subject to a security condition. Security consists of blocking ten or fifteen percent of the claim on the court card or presenting a bank guarantee letter. The purpose of the security is to guarantee compensation for the debtor’s victims due to unforgettable obligations. After the proceedings are completed, the security can be returned by applying to the court.
APPLICATION TO THE COURT OF FIRST INSTANCE OR THE COMMERCIAL COURT, GENERALLY CONCERNING THE DECREE ISSUED ON THAT DAY, CONCERNING ENFORCEMENT PROCEEDINGS, PRECAUTIONARY MEASURES, RECIPIENT ADDRESS OR REQUIRED ADDRESS, APPLICATION FOR SEIZURE, APPLICATION FOR ENFORCEMENT PROCEEDINGS. A DEBTOR NOTIFICATION MAY BE OPENED, AND SYSTEMS RELATED TO THE INQUIRY OF THE DEBTOR’S FINANCIAL ASSETS MAY APPLY THE ATTACHMENT PROCESS RELATED TO THIS PROPERTY.
Furthermore,
ATTACHMENT CANNOT BE REQUESTED FOR EVERY CREDIT. DOCUMENTS (CHECKS, DEPOSITS, COLLATERAL, ETC.) MUST BE BASED ON THE APPLICATION.
In foreign transactions carried out with liability, pursuant to Article 261 of the Bankruptcy Law, the preliminary liability decision shall be revised within 10 days from the date given by the competent enforcement office (within the jurisdiction of the court).
The decision must be requested. Otherwise, the preliminary liability decision is lifted. If the sale of sealed mechanical goods is not requested within 6 months or the sale is not necessary within 1 year, liability is waived.
The other party, pursuant to Article 264/2 of the Bankruptcy Law, if the debtor objects to the payment order, this objection shall be immediately communicated to the creditor or their attorney. The creditor or attorney must request that the objection be forwarded to the review authority within 7 days. Otherwise, pursuant to Article 264/4 of the Bankruptcy Law, the debt is invalid.