Unfair transfer trading enterprises to third-party

Unfair transfer trading enterprises to third-party

Nowadays, companies face many difficulties in collecting their receivables.This situation seriously damages and victimizes creditors.This occurs primarily through the transfer of the commercial entity to third parties.
Accordingly, the borrower makes agreements with third parties with the intention of concealing their assets and tries to victimize the creditor.The legislator, who is well aware of this situation, has enacted a number of provisions.Accordingly, there are regulations inTurkish Commercial Code, Code of Commercial Enterprise Pledge and Enforcement and Bankruptcy Code.
According to Article 11/3 of the Turkish Commercial Code, the transfer of the commercial enterprise must be made in writing, registered and finally announced.It should be known that if the transfer of the commercial enterprise is not made in writing, the contract will not create a provision.The announcement is a regulation to eliminate the goodwill of third parties.
In sum, two conditions are required for the legal recognition of a transfer of commercial enterprise:
1-)a written contract
2-)registration
A very important law regulation states that the assets and liabilities of the commercial enterprise must be transferred together.The purpose of this is to protect the interests of creditors.If the debtor carries out the transfer for the purpose of damaging the creditor, the creditor shall apply to the transferor for the same receivables.In accordance with Article 202 of Turkish Law of Obligations; the transferee will responsible for mentioned debts within the legal limitation.(10 year ) And the transferor will contiune remain debtor 2 years with transferor.
In accordance with Article 280 of the Execution and Bankruptcy Law, İf the debtor’s aim is just hiding assets of from creditor and in add,creditor can not able to obtain his/her right after transfer of commercial enterprise,in that case, he/she could sue for the cancellation of that savings.
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