Best Bankruptcy Lawyers in Istanbul

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Lexin Legal

Lexin Legal

Istanbul, Turkey

Founded in 2018
12 people in their team
Lexin Legal is a law firm established by two founding partners, Onur Calisici and Oruc Aygun with the primary objective of providing legal services...
English
Turkish
Arabic
Russian
Italian
German
Kurdish
Armenian
Hebrew (modern)
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Kule Hukuk Bürosu

Kule Hukuk Bürosu

Istanbul, Turkey

Free Consultation: 15 mins


Founded in 2010
10 people in their team
Avukat Ferhat Kule, İstanbul'da yerleşik tam hizmet veren bir hukuk bürosudur. Müvekkillerimizin isteklerini karşılamak için çeşitli hukuk...
Turkish
English
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Lex Lata Consulting & Law

Lex Lata Consulting & Law

Istanbul, Turkey

Founded in 2022
3 people in their team
Lex Lata Consulting and Law Firm, stationed in Istanbul, Turkey, emerges as a leading entity dedicated to offering nuanced legal and consulting...
Turkish
English
Russian
Arabic
Armenian
Chinese
Bulgarian
Croatian
Finnish
French
Greek
German
Georgian
Hebrew (modern)
Italian
Norwegian
Romansh
Polish
Spanish
Serka Law Firm in Turkey

Serka Law Firm in Turkey

Istanbul, Turkey

Founded in 2013
12 people in their team
As Serka International Law Firm we successfully operate in Turkish, English, Russian, Arabic, Portuguese, Spanish, Chinese and German. Our Areas of...
English
Russian
Arabic
Persian
Chinese
BAL Law Firm

BAL Law Firm

Istanbul, Turkey

Free Consultation: 1 hour


Founded in 2016
10 people in their team
We are a independent Turkish law firm based in Istanbul, providing a wide range of legal services to individuals, institutions, and companies. As...
Turkish
English
Selim Law Firm

Selim Law Firm

Istanbul, Turkey

Founded in 2017
5 people in their team
Selim Law Firm is a Turkish law firm in Istanbul that serves global and local clients. Providing our clients with the highest quality service and...
Turkish
English
French
Just & Fair Law Firm

Just & Fair Law Firm

Istanbul, Turkey

Founded in 2002
15 people in their team
Providing high caliber legal consultancy, mediation, arbitration, litigation and education services to domestic, regional and global companies,...
English
Turkish
French
Arabic
Russian

About Bankruptcy Law in Istanbul, Turkey

Bankruptcy is a legal process that allows individuals or businesses who are unable to repay their debts to seek relief from their financial obligations. In Istanbul, Turkey, bankruptcy cases are governed by the Turkish Commercial Code and the Execution and Bankruptcy Law.

Why You May Need a Lawyer

While it is possible to navigate the bankruptcy process without a lawyer, it is often advisable to seek legal representation, especially in complex cases. Some common situations where you may need a lawyer include:

  • Understanding your rights and options in bankruptcy
  • Negotiating with creditors for a favorable resolution
  • Filing the necessary paperwork correctly
  • Defending against any lawsuits or claims brought by creditors
  • Ensuring the protection of your assets and interests

Local Laws Overview

When dealing with bankruptcy in Istanbul, it is important to be aware of the following key aspects of local laws:

  • Bankruptcy proceedings fall under the jurisdiction of the Istanbul Commercial Courts.
  • Individuals may file for bankruptcy under the Bankruptcy and Enforcement Law, while businesses may file under the Turkish Commercial Code.
  • There are different types of bankruptcy, including voluntary and involuntary bankruptcy.
  • The bankruptcy process involves the appointment of a trustee who manages the debtor's assets and distributes them among the creditors.
  • Certain debts may be discharged or restructured during bankruptcy, while others may need to be repaid over time.

Frequently Asked Questions

Q: How long does the bankruptcy process take in Istanbul, Turkey?

A: The duration of the bankruptcy process can vary depending on the complexity of the case. It may take several months to a few years to reach a resolution.

Q: Will I lose all my assets if I file for bankruptcy?

A: Not necessarily. While some assets may be liquidated to repay creditors, there are exemptions and protections available under Turkish law. Consulting with a lawyer can help you understand how your assets may be affected.

Q: Can I still start a new business after bankruptcy?

A: Yes, bankruptcy does not prohibit you from starting a new business. However, it is important to address the factors that led to the bankruptcy and take steps to prevent a similar situation from occurring again.

Q: Can I choose which type of bankruptcy to file?

A: The type of bankruptcy you can file depends on your circumstances. Individuals generally file for voluntary bankruptcy, while involuntary bankruptcy may be initiated by creditors under certain conditions.

Q: How can a lawyer help negotiate with creditors?

A: A lawyer can negotiate with creditors on your behalf, aiming to reach a favorable resolution. They can help you explore various options, such as debt restructuring or debt settlement, and provide legal guidance throughout the negotiation process.

Additional Resources

  • Istanbul Bar Association: The official organization representing lawyers in Istanbul, offering resources and referral services. Website: https://istanbulbarosu.org.tr/
  • Turkish Ministry of Justice: Provides information on bankruptcy laws and procedures in Turkey. Website: https://www.adalet.gov.tr/
  • Turkish Commercial Code: The primary legal framework governing commercial matters, including bankruptcy. Website: http://www.mevzuat.gov.tr/MevzuatMetin/1.5.6102.pdf

Next Steps

If you find yourself in need of legal assistance regarding bankruptcy in Istanbul, Turkey, consider taking the following steps:

  1. Evaluate your financial situation and determine if bankruptcy is the right option for you.
  2. Research and find a reputable lawyer who specializes in bankruptcy law.
  3. Schedule a consultation with the lawyer to discuss your case and understand the potential outcomes.
  4. Work closely with your lawyer to gather the necessary documentation and information for your bankruptcy filing.
  5. Follow the advice and guidance provided by your lawyer throughout the bankruptcy process.
Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.