Tue, Jun
79 New Articles

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

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

“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

We are Güleryüz Partners, an Istanbul based law firm, offering high-quality legal services to domestic and multinational clients.

Our team consists of energetic young professionals who are led by talented partners with strong academic backgrounds at prestigious universities in the USA, UK, and Germany, coupled with vast market experience exceeding a decade at top tier Turkish law firms. All our associates are fluent in English and provide legal advice in additional languages such as German and French.

Our practice ranges from complex disputes to sophisticated M&A and finance transactions. We provide niche legal services in a wide range of legal areas such as litigation and dispute resolution, local and cross border M&As, banking, finance and capital markets, venture capital investments and start-ups, and compliance and corporate governance (including data privacy, anti-corruption and white-collar crime, AML, and sanctions).

We value strong communication and information flow among our departments for the perfection of our legal services. This interdepartmental coordination enables us to take a more client-centric approach and to better understand and cater for the client needs. Our business perspective goes beyond providing excellent legal advice to our clients; we also collaborate with them as their business partners and offer them the entire legal ecosystem that they can thrive their business.  

As Güleryüz Partners, we heavily invest in our pro bono projects in Turkiye and work together with institutions, foundations, and other organizations to provide legal advice to the persons in need of help, while acknowledging the high costs usually associated with high quality legal services limit the access to justice for many people.

We also pride ourselves on fostering and promoting a diverse, equitable and inclusive work environment where every individual feels valued and respected.

For further information, you may visit our website at www.guleryuz.av.tr.