Presidential Resolution on Suspending the Execution and Bankruptcy Proceedings in the Scope of COVID-19 Measures (Resolution No. 2279)
An important regulation is made temporarily in the execution and bankruptcy law through the Resolution No. 2279 Resolution on Suspending the Execution and Bankruptcy Proceedings (“Resolution”), published in the Official Gazette dated 22 March 2020 and No. 31076. The resolution is summarized below.
In order to prevent the spread of COVID-19, a range of measures are taken all around the country. A significant part of those measures aims to lower the traffic in the courthouses for the time of the epidemic and to prevent any loss of right.
Pursuant to the Resolution, it is decided to suspend all active execution and bankruptcy proceedings within the country between 22 March 2020 and 30 April 2020. Within the mentioned time frame, neither a party transaction nor execution procedure is to be made, and no new execution or bankruptcy proceeding is to be initiated.
Also the Resolution governs that the interim attachments shall not be executed. The only exception in the Resolution is made regarding the executions for maintenance.
You may access the full text of the relevant Resolution here.
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Pursuant to the Presidential Resolution on Suspending the Execution and Bankruptcy Proceedings, which was published in the Official Gazette dated 22 March 2020 and numbered 31076, it has been decided to suspend all active execution and bankruptcy proceedings in the country until 30 April 2020. On the application of this Resolution, the Ministry of Justice, Department of Execution Proceedings published the Circular dated 24 March 2020 ("Circular").
On March 28, 2020, the UK Government has announced new measures on bankruptcy law in order to support businesses during the COVID-19 outbreak.