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Bağ & Günen Hukuk Bürosu

Legal Tag

The Law on Movable Pledge for Commercial Transactions (“Law”) was published in the Offical Gazette on 28.11.2016. The Law will repeal the current Commercial Enterprise Pledge Law numbered 1447 and be in effect as of 1 January 2017. Various revisions are introduced to the movable pledge are with the new Law. Together with this issues that may arise due to the application of the Law are expected to be resolved with the secondary legislation. The purpose and scope of the law The Law aims to extend the use of moveable pledge without delivery as a security, to widen the scope of the