Client Alert:

DEADLINES FOR THE SUBMISSION OF CHEQUES AND THE ENFORCEMENT PROCEEDINGS OF THE BILLS OF EXCHANGE HAVE BEEN SUSPENDED!

DEADLINES FOR THE SUBMISSION OF CHEQUES AND THE ENFORCEMENT PROCEEDINGS OF THE BILLS OF EXCHANGE HAVE BEEN SUSPENDED!

This article is one of many articles we have published in relation to the legal implications of Covid-19. Please click here for our “Covid-19 Insights” page and other articles.

The Presidential Cabinet has implemented nation-wide curfew measures starting from 19.00 on Thursday, April 29, 2021 until 05.00 on Monday, May 17, 2021 in order to curb the spread of the Covid-19 and the sole measure with respect to the judiciary system was the postponement of the hearings, which we have covered here.

An additional judiciary measure has been imposed by the Grand National Assembly of Turkey which enacted Law No. 7318 (“Law”) on 29 April 2021 regarding the suspension of (i) the deadlines for submission of cheques and (ii) the enforcement proceedings of bills of exchange in order to prevent any prejudice to affected people/entities during the nation-wide curfew.

Pursuant to the Law published in the Official Gazette No. 31470 dated 30 April 2021:

(i) Cheques expiring during the period starting from 30 April 2021 until 31 May 2021, shall not be submitted during this period, but after 1st of June, 2021 and within the remaining submission period.

(ii) For claims arising from bills of exchange that will become due and payable during the period starting from 30 April 2021 until 31 May 2021: the pending enforcement and bankruptcy proceedings shall be suspended, no precautionary attachment orders shall be granted or no enforcement and bankruptcy proceedings shall be commenced in this period.

The regulation also prohibits the commencement of any enforcement and bankruptcy proceedings for the same period with regard to the debts owed to the public administrations as per the Law No. 5018 on Public Finance Management and Auditing.

Our firm will continue to update our clients and friends of the firm of any developments regarding the precautions being implemented with regard to the legal effects of COVID-19 pandemic. Please do not hesitate to contact us if we can be of any assistance to you.

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corporate, finance, railway, petroleum, regulation, e-commerce, istanbul, arbitration, foreign awards, national markers, energy, advance dividends, natural resources, letter of guarantee, interim dividends

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