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New Regulation in Turkey Regarding the Electronic Inquiry on Assets, Rights and Receivables of Debtors

New Regulation in Turkey Regarding the Electronic Inquiry on Assets, Rights and Receivables of Debtors

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“Regulation on the Principles of the Asset, Right and Receivable Inquiry on the National Judiciary Informatics System” [“Regulation”] was published in the Official Gazette dated January 22, 2022 and entered into force on the same date. The Regulation basically sets forth the procedures and principles regarding the inquiry of the debtor's assets, rights and receivables via the information systems integrated into the National Judiciary Informatics System [the so-called "UYAP"].

In fact, asset, right and receivable inquiry and attachment request through UYAP was possible pursuant to the amendments made to the Execution and Bankruptcy Law No.2004 within the scope of the 3rd Judicial Package dated July 22, 2020. Therefore, the new Regulation basically eliminated hesitations regarding the current implementation and the functioning of the system.

Who Can Make the Inquiry?

Inquiry can mainly be made by the lawyers registered as the creditor's attorney in the relevant enforcement file at the UYAP. Although natural person or legal entity creditors can also make inquiries through the UYAP Citizen Portal as per the Regulation, the Citizen Portal’s infrastructure has yet to be developed.

What Kind of Information Can Be Obtained?

Information on the debtor's assets, rights, or receivables found in the integrated databases of public institutions and organizations, credit institutions and financial institutions defined in the Banking Law No. 5411, and institutions and organizations that keep records of a similar nature can be obtained within the scope of the UYAP inquiry.

In case an asset, right, or receivable belonging to the debtor is detected, characteristics of the asset, right, or receivable are disclosed on the system. If there aren’t any asset, right, or receivable detected within the scope of the inquiry, then the nonexistence is indicated in the inquiry report.

What Kind of Assets, Rights, or Receivables Can Be Subject to Inquiry?

Vehicles, Revenue Administration registrations, enforcement files, credit and financial institutions’ registrations, postal checks, Social Security Institution registrations, and real estates are among the assets, rights, and receivables that can be inquired within the scope of the Regulation. The information provided only relates to the debtor's assets, and save for specific characteristics of the assets, rights, and receivables, further information about third parties associated with the debtor is not disclosed.

While the scope of the inquiry is, for the time being, limited to the assets, rights, and receivables specified above, it is possible for other institutions and organizations that keep similar data to integrate with UYAP in the upcoming period. In case of such integration with other institutions and organizations, the Regulation will automatically be applied to the inquiry procedures to be carried out in the databases of these institutions and organizations as well.

Is the Inquiry a Paid Service?

The cost of the inquiry on the debtor's assets, rights, or receivables costs 0,50 [per inquiry]. This amount is increased each year at the rate of revaluation determined and announced annually. On the other hand, the Ministry of Justice announced that no fee will be charged until January 1, 2023, for the inquiries. As of that date, only inquiries to be carried out by public administrations within the purview of general government, as well as those made up to five times a day on the same file by a creditor will not be subject to a fee.

Finally, it should be noted that inquiry fees cannot be charged to the debtor as an execution expense.

By M. Tarik Guleryuz, Partner, and I.Selin Nacar, Associate, Guleryuz & Partners

Guleryuz & Partners at a Glance

Güleryüz & Partners Attorneys at Law is an Istanbul based law firm offering a broad scope of high-quality legal services to domestic and multinational clients across a wide range of regulated and non-regulated industries. The Firm is comprised of energetic young professionals, led by experienced lawyers with a proven track record of working in the most demanding environments possible. Our team has comprehensive experience in serving clients in connection with a full breadth of Turkish law matters including Litigation & Dispute Resolution, M&A, Wealth Management & Family Businesses, General Corporate & Contract Law, Real Estate & Construction, Enforcement and Bankruptcy Proceedings, Labor Law, Administrative Law, and Anti-Corruption & White-Collar Crimes. 

Our core business culture is centered on integrity, dedication to clients’ needs, and excellence of legal advice and services. Therefore, our primary objective is to ensure the most personalized and reliable legal service for our clients. In pursuit of this objective, the international academic backgrounds of our partners at prestigious universities in USA, UK and Germany coupled with more than ten years of past experience at top tier Turkish law firms enhances the visionary practice of the Firm.

We blend our practical expertise with our outstanding grasp of legal theory in order to provide our clients with legal services of unmatched quality. Our clients range from multinational companies where we provide a level of attention normally only expected from in-house counsels in order to timely manage every aspect of the clients’ legal needs, to individuals for whom we make their objectives ours in order to provide comfort and ease of life. While we always put client service above all, we are proud to be on a quest to make reliable legal information available for everyone. Hence, we are constantly authoring articles on a broad scope of legal topics for respectable publications including Bloomberg Businessweek and the monthly magazine TR Monitor.

While Güleryüz & Partners operates mainly in Turkish and English, we are capable of providing legal services in French, German and Russian as well. The Firm also has an associated office in Ankara.

You can learn more about the Firm at guleryuz.av.tr