Minister of Justice Abdulhamit Gül stated that "an important regulation has been introduced to keep the companies alive" concerning the Draft Law on Making Amendments to the Execution and Bankruptcy Law and to some Other Laws which was adopted in the Plenary Session of the Grand National Assembly of Turkey.
Speaking in the Plenary Session of the GNAT, Minister of Justice Gül answered the questions of the Members of Parliament on the whole draft. Concerning the follow-up files in the execution offices in 2016, Minister Gül said that the number of files from 2015 is 18 million 80 thousand 658, incoming files in 2016 are 8 million 863 thousand 894, finalized files are 2 million 388 thousand 817, files cancelled are 5 million 168 thousand 247 and files transferred are 19 million 389 thousand 488.
Concerning the follow-up files in 2017, Minister Gül stated that the number of files from 2016 is 19 million 463 thousand, incoming files in 2017 are 8 million 577 thousand, finalized files are 2 million 481 thousand, files cancelled are 5 million 110 thousand and files transferred are 20 million 448 thousand. Minister Gül added that the number of applications for postponement of bankruptcy for 2015 is 476 and the number of acceptance is 83.
Stating that the number of applications for postponement of bankruptcy for 2016 is 654 and the number of acceptance is 100, Gül continued "Our citizens may face execution also for small claims. We are in a study to provide that our citizens not to face execution because of small claims."
Minister Gül continued his speech as follows:
"I wish the Draft Law on Making Amendments to the Execution and Bankruptcy Law and to some Other Laws for Improving the Investment Environment to be beneficial for our country and the investment environment. Indeed, postponement of bankruptcy has been abused, and even the operating centers, headquarters of companies have been moved to other locations, headquarters of companies have been moved to locations according to courts from where they will take a decision and it was abused in practice. It was like an arrangement not for staying alive but the destruction of companies instead. Now, a system is drafted which can keep the debtors alive and allow the creditors to collect their claims. With this system, an important arrangement has been introduced for keeping the company not to be insolvent, planning the risk itself in advance and before the court, under its control and supervision, in a sense to keep the companies alive."
In the Plenary Session of the GNAT, "the Draft Law on Making Amendments to the Execution and Bankruptcy Law and to some Other Laws" which was prepared in order to improve the investment environment was enacted.
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