1. Within the context of the measures taken for combating COVID-19, how will the courthouses function?

The courthouses across the country are open and active. That being said,

A new Law Amending Certain Acts No.7226 was published in the Official Gazette No. 31080 dated March 26, 2020. In order to prevent loss of rights in the judiciary;

(I)Deadlines of all periods regarding to the origination, use or termination of a right in/regarding litigation, enforcement proceedings, application, complaint, appeal, notice, submission; statutory limitation, mandatory administrative application periods and statutory periods of mediation and settlement institutions will freeze from (including) March 13, 2020 to April 30, 2020.

7226 Sayılı Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun (“Torba Kanun”) 26.03.2020 tarih ve 31080 sayılı (mükerrer) Resmî Gazete’de yayımlanmıştır. Kanun, Türkiye Büyük Millet Meclisi (“TBMM”) 24 Mart 2020 tarihli Genel Kurulu’nda görüşülerek kabul edilen ve Korona virüs (“Covid-19”) salgınıyla mücadele kapsamında tedbirlerin yer aldığı 196 Sıra Sayılı Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun Teklifi (“Kanun Teklifi”)’nin yasalaşmış hali olduğundan büyük önem arz etmektedir.

The Grand National Assembly of Turkey adopted Law No. 7226 on the Amendment of Certain Laws on 25 March 2020 (“Omnibus Law”), which was published in the Official Gazette dated 26 March 2020 numbered 31080 (bis). The Omnibus Law introduced many protective measures including the prevention of forfeiture and precautions against rental payment related evictions from workplaces in an effort to ease the difficulties caused by the spread of the COVID-19 pandemic in Turkey.

All Judiciary Periods will be Suspended Until 30 April 2020:

As per Temporary Article 1 of the Omnibus Law:

I. DEFINITIONS

"Banking Law" means the Banking Law of Turkey No. 5411.

"BRSA" means the Banking Regulatory and Supervisory Authority of Turkey.

"Creditors" means Turkish banks, financial leasing companies, factoring companies and financing companies and Foreign Credit Institutions and International Organizations.

1. Nature of process 

Chapter 11 used to effect operational restructuring, deleverage balance sheet, and/or commence asset sale of the business as a going concern

Insolvency Act process primarily used to effect a pre-packaged sale of the business or assets effected by administrators (i.e. external qualified appointees).

Our assessments regarding the legal procedures within the scope of branch liquidation transactions to be followed in compliance with the Turkish Commercial Code numbered 6102 (“TCC”) and before the Istanbul Trade Registry Directorate regarding the liquidation process of the Center Abroad Turkey Branch.

I. Regarding The Closing – Liqudiation Procedures Of Center Abroad Turkey Branch

Bu bilgi notu, yurtdışı merkezli şirketlerin Türkiye’deki şubelerinin kapanışına ilişkin olarak; tasfiyeye giriş işlemleri ve tasfiye sonunda gerçekleştirilmesi gereken süreçler TTK hükümleri ve İstanbul Ticaret Sicil Müdürlüğü uygulamaları dahilinde bilgilendirme amacıyla hazırlanmıştır.

1. MERKEZİ YURTDIŞINDA BULUNAN ŞİRKETİN TÜRKİYE ŞUBESİ KAPANIŞ – TASFİYE İŞLEMLERİ HAKKINDA

22 Mart 2020 tarihli ve 31076 sayılı Resmi Gazete’de yayımlanan 2279 sayılı Cumhurbaşkanı Kararı (“Cumhurbaşkanı Kararı”) uyarınca; COVID-19 salgın hastalığının yayılmasını önlemek amacıyla alınan tedbirler kapsamında, 22 Mart 2020 tarihinden 30 Nisan 2020 tarihine kadar, nafaka alacaklarına ilişkin icra takipleri hariç olmak üzere, yurt genelinde yürütülmekte olan tüm icra ve iflas takiplerinin durdurulmasına ve bu çerçevede taraf ve takip işlemlerinin yapılmamasına, yeni icra ve iflas takip taleplerinin alınmamasına ve ihtiyati haciz kararlarının icra ve infaz edilmemesine karar verilmişt

As per the Presidential Decree (“The Decree”) numbered 2279, published in the Official Gazette, all enforcement and bankruptcy proceedings throughout the country, except for enforcement proceedings regarding alimony receivables, have been suspended from the day this Decree comes into effect until 30/04/2020. The Decree includes suspension of all party and legal actions and enforcement or execution of ancillary attachments. The Decree is enacted, based on Art.330 of Bankruptcy and Enforcement Law Numbered 2004.