What is Lien?

What is Provisional Attachment? | What does Provisional Attachment mean? | Concealment of Assets | Enforcement and Bankruptcy Law | Enforcement Lawyer | Enforcement Lawyer in Izmir | Efes Law Office

After initiating enforcement proceedings, a payment order is served on the debtor, and after the legal deadlines have passed according to the type of enforcement, seizure of assets can begin. During the legal periods that must pass after enforcement proceedings are initiated against the debtor, a debtor acting in bad faith may transfer assets subject to seizure to another party or engage in other acts of asset concealment. For example, the debtor may sell their house or car, withdraw money from bank accounts, sell their shares on the stock exchange, or sell valuable and marketable movable assets to convert them into cash. To prevent a debtor from concealing assets, it is necessary to obtain a provisional attachment order before initiating enforcement proceedings against the debtor. Provisional attachment is generally a type of attachment based on a court order, applied in cases where the debtor attempts to conceal assets, avoids payment of the debt, refuses to fulfill a commitment when possible, or absconds. During this process, the creditor is required to provide security as a down payment to cover any potential damage to the debtor's assets.

Provisional attachment is generally a type of attachment based on a court order, applied in cases where the debtor attempts to conceal assets, avoids payment of the debt, refuses to fulfill a commitment when possible, or absconds. During this process, the creditor is required to provide security as a down payment to cover any potential damage to the debtor's assets.

A precautionary attachment is requested by submitting a petition to the civil or commercial court of first instance. This petition is reviewed on the basis of the file without a hearing, and a decision is made if the conditions are met. The issuance of a provisional attachment order is subject to a security deposit. The security deposit consists of blocking an amount between ten and twenty percent of the claim (the amount is determined by the court) in the court's treasury or providing a bank guarantee letter. The purpose of the security deposit is to prevent the debtor from suffering harm in the event of an unjustified precautionary attachment. After the enforcement proceedings are finalized, the security deposit can be returned following an application to the court.

Generally, a court order from the civil or commercial court of first instance can be brought to the enforcement office, and on the same day, a precautionary attachment can be applied to the debtor's address or requested addresses. The enforcement office can open a file and, without serving notice to the debtor, can query the debtor's assets through the system and apply attachment procedures to these assets.

Precautionary seizure procedures, Enforcement and Bankruptcy Law, Article 261 According to the provisional attachment order, its enforcement must be requested from the competent enforcement office (the office within the court's jurisdiction) within 10 days of the date it was issued. Otherwise, the provisional attachment order automatically lapses. The provisional attachment also lapses if the sale of the seized movable property is not requested within 6 months, or if the sale of the seized immovable property is not requested within 1 year.

Precautionary attachment, which eliminates the possibility of the debtor concealing assets and guarantees the creditor's claim, is frequently applied and benefits the creditor. This is because it prevents the debtor from hiding assets and leaves no doubt about the collection of the debt.

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