Our View
Debt recovery is a vital aspect of maintaining healthy business operations, as outstanding receivables can severely impact a company’s cash flow and financial stability. In Turkey, pursuing unpaid debts can be complex and time-consuming for both domestic and international creditors. Legal procedures often involve detailed formalities, strict deadlines, and strategic decision-making at every stage.
Creditors frequently face challenges in assessing a debtor’s financial standing before initiating legal action, especially due to limitations in accessing up-to-date or reliable financial records of private entities. This uncertainty, when combined with the potential legal costs and procedural hurdles, can make debt recovery a daunting process.
For foreign creditors, an additional layer of complexity may arise where the claim is based on a foreign judgment or arbitral award. In such cases, recognition and enforcement proceedings must first be initiated before Turkish courts. Once a recognition and enforcement decisions are obtained, the foreign ruling gains the effect of a Turkish court judgment, and execution measures can be pursued.
Whether you are a local business seeking to recover unpaid invoices or a foreign entity attempting to enforce your rights in Turkey, navigating the debt recovery process efficiently requires strategic legal support tailored to your specific situation.
Our Services
At ASY LEGAL, we provide comprehensive services tailored to support efficient and effective debt recovery in Turkey:
Case Assessment and Strategy Development: We start by reviewing the case in detail, evaluating the debtor’s financial position, and advising on the most appropriate and cost-effective recovery strategy.
Amicable Settlement Negotiations: We prioritize out-of-court solutions by negotiating with debtors to reach amicable settlements, reducing time and expenses.
Preparation and Filing of Legal Actions: When necessary, we prepare and initiate legal actions, including preparation and filing of legal proceedings and enforcement applications, ensuring compliance with all procedural requirements.
Monitoring and Reporting: Throughout the process, we provide clients with regular updates and clear reporting to ensure transparency at every stage.
A thorough and professional approach ensures each step of the debt recovery process aligns with the best practices of the Turkish legal system.