News
THE PROCEDURE OF SALE BY AUCTION AND THE LEGAL ASPECT OF NEW REGULATIONS BROUGHT BY THE 9TH JUDICIAL PACKAGE
By new regulations brought by the 9th Judicial Package, a new legal frame for the sale of seized goods electronically is instructed according to Enforcement and Bankruptcy Law Article 111/b. Transactions about the sales of seized goods are made via a sale portal integrated with the National Judicial Network Information System (UYAP) by auction. However, because of the legal gaps of the law, an application about the sale transactions cannot be displayed. The amendments introduced by legislators to the law regarding electronic sales in the 8th and 9th Judicial Packages, as well as the newly established regulations, are considered an important step toward making foreclosure processes faster and ensuring that sales transactions are conducted in a safer and more transparent environment.
LAW NUMBERED 7531 ON AMENDMENTS TO CERTAIN LAWS WAS PUBLISHED
Law1 No. 7531 on the Amendment of Certain Laws ("Law"), also known as the 9th Judicial Package, was published in the Official Gazette dated 14.11.2024 and numbered 32722 and contains significant amendments to 17 different laws.
