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Bağ & Günen Hukuk Bürosu

Pledge Tag

The regulations that are set out below which will determine the application of the Law on Movable Pledges for Commercial Transactions (“Law”) numbered 6750 have entered into force on 1.1.2017 after their publication in the Official Gazette dated 31.12.2016 and numbered 29935:Regulation on the Establishment of Right of Pledge and Exercise of Rights After Default (“Regulation on Right of Pledge”), Regulation on the Valuation of Movables within Commercial Transactions (“Regulation on Valuation”), Regulation on the Pledged Movable Registry (“Regulation on Registry”).Our explanations regarding these regulations are set out below: I. Regulation on Right of Pledge Regulation on Right of Pledge regulates

The Law on Movable Pledge for Commercial Transactions (“Law”) was published in the Official Gazette on 28.11.2016 which will repeal the current Commercial Enterprise Pledge Law numbered 1447 and be in effect as of 1 January 2017. The Law aims to extend the use of moveable pledge without delivery as a security, to widen the scope of the movables that are subject of this pledge, to ensure publicity of movable pledge and to facilitate access to financing by providing alternative methods for foreclosure of movable pledges. The Regulation which will determine the procedures and principles for various matters within the scope of