PART ONE
Initial Provisions
Purpose and Scope
ARTICLE 1- (1) The purpose of this Regulation is to regulate the procedures and principles regarding the qualifications, selection, duties and obligations, audit and supervision, training, registration to the list, and other matters concerning the bankruptcy administration officers to be appointed in accordance with the provisions of the Execution and Bankruptcy Law No. 2004 dated 9/6/1932.
Basis
ARTICLE 2- (1) This Regulation has been prepared based on the sixth paragraph of Article 223 of Law No. 2004.
Definitions
ARTICLE 3- (1) In this Regulation;
a) Ministry: Refers to the Ministry of Justice,
b) Regional board: Refers to the regional board of experts,
c) Bankruptcy administration officer: Refers to the persons appointed pursuant to Article 223 of Law No. 2004,
ç) Bankruptcy estate (Masası): Refers to the collective body consisting of all seizable property, rights, and receivables of the bankrupt at the moment the bankruptcy is opened,
d) Law: Refers to the Execution and Bankruptcy Law No. 2004 dated 9/6/1932,
e) List: Refers to the list of bankruptcy administration officers established by the regional board,
f) Tariff: Refers to the tariff prepared by the Ministry and renewed every two years,
g) Basic training: Refers to the mandatory bankruptcy administration training required for registration to the list within the scope of the principles set forth in the legislation and determined by the Ministry,
ğ) UYAP: Refers to the National Judiciary Network Information System,
refers.
PART TWO
Appointment and Obligations of the Bankruptcy Administration Officer
Qualifications of the bankruptcy administration officer
ARTICLE 4- (1) The following qualifications are sought in a bankruptcy administration officer:
a) To be a Turkish citizen.
b) To have full legal capacity.
c) For those to be selected among lawyers, sworn-in certified public accountants, or certified public accountants, to be a graduate of domestic higher education institutions or foreign institutions whose equivalence is accepted by the Council of Higher Education at the undergraduate level.
ç) For those to be selected other than lawyers, sworn-in certified public accountants, or certified public accountants, to be a graduate of domestic or foreign higher education institutions (associate or undergraduate level) accepted by the Council of Higher Education.
d) To have professional experience of not less than five years.
e) Not to have been declared bankrupt.
f) Not to have been removed from the list within the last three years, except for their own request.
g) Not to have been dismissed from a profession or civil service, and not to be prohibited from practicing an art or professional activity.
ğ) Not to be barred from public service.
h) There must be no provision in the legislation governing their current profession that prevents them from serving as a bankruptcy administration officer.
ı) Even if the periods specified in Article 53 of the Turkish Penal Code No. 5237 dated 26/9/2004 have passed; not to have been convicted of an intentional crime with a prison sentence of more than one year, or crimes against the security of the state, crimes against the Constitutional order and its functioning, embezzlement, extortion, bribery, theft, fraud, forgery, abuse of trust, fraudulent bankruptcy, bid rigging, rigging the performance of an act, money laundering, smuggling, false expertise or translation, perjury, or false oath, even if pardoned.
i) Not to be affiliated or in contact with terrorist organizations.
j) To have completed the bankruptcy administration training, without prejudice to the provisions of Article 18.
Procedure for selecting the bankruptcy administration officer
ARTICLE 5- (1) The bankruptcy administration consists of three persons selected from candidates shown in the list of bankruptcy administration officers created by the regional boards. If there is no one suitable for candidacy in the list, candidates may be shown from outside the list or from the lists of other regional boards. One of the bankruptcy administration officers to be selected must be a lawyer, and one must be a sworn-in certified public accountant or a certified public accountant.
(2) If a bankruptcy administration officer is nominated other than a lawyer or accountant, it is preferred that this candidate be someone who knows the sector in which the bankrupt operates.
(3) In the election to be held by the creditors at the first creditors' meeting, twice the number and quality of candidates specified in the first paragraph are nominated. Four of these candidates are elected by those constituting the majority according to the amount of receivables, and two are elected by those constituting the majority according to the number of creditors. The candidates elected by the majority of receivables and the candidates elected by the majority of the number of creditors must be different persons.
(4) A list of those who request receivable registration before the first creditors' meeting is prepared by the bankruptcy office. This list is kept in a place in the meeting hall that allows everyone to examine it.
(5) An attendance list is prepared before the election begins. All creditors, legal representatives, or attorneys-at-law attending the meeting, along with other necessary information, are recorded in the attendance list.
(6) Upon the determination that the meeting quorum has been met in accordance with Article 221 of the Law and the evaluation made by the bankruptcy bureau, the nomination process by the creditors begins.
(7) The identification information of the candidates nominated by the creditors is recorded in the meeting minutes. The nominated candidates are voted upon.
(8) Four candidates are elected by the creditors constituting the majority by the amount of receivables, and two candidates are elected by the creditors constituting the majority by the number of creditors.
(9) If a candidate from outside the list is requested, this request is recorded in the minutes with its justifications. It is checked whether a person with the same qualifications as the candidate nominated from outside the list exists on the list. If such a candidate exists on the list, the request to nominate from outside the list is rejected, and the creditor is informed that they must nominate a candidate from the list. If, despite this, no one from the list is nominated, it is accepted that the creditor has not nominated a candidate, and procedures continue.
(10) During the nomination stage and at the end of the voting, the bankruptcy office checks whether the candidates to be reported to the enforcement court meet the conditions in the first and third paragraphs and whether they are simultaneously assigned as bankruptcy administration officers in more than five files.
(11) As a result of the voting, four candidates elected by the majority of receivables and two candidates elected by the majority of the number of creditors are reported to the enforcement court. If the votes of the candidates to be reported are equal, all such candidates are reported.
(12) All procedures to be carried out under this article are recorded in detail in the meeting minutes.
Appointment of the bankruptcy administration officer
ARTICLE 6- (1) The enforcement court appoints two of the three persons who will constitute the bankruptcy administration from among the four candidates elected by the majority of receivables, and one from among the two candidates elected by the majority of creditors. One of the appointed bankruptcy administration officers must be a lawyer, and one must be a sworn-in certified public accountant or a certified public accountant.
(2) During the appointment by the enforcement court, it is checked via UYAP whether the candidates currently hold bankruptcy administration duties. A candidate who has five files under their responsibility cannot be appointed as a bankruptcy administration officer.
(3) If the duty of a bankruptcy administration officer selected from among lawyers or accountants ends for any reason, and it is determined that there is no other officer of the same qualification in the administration, the enforcement court appoints an officer of this qualification from among the previous candidates.
(4) If the duty of a bankruptcy administration officer appointed other than a lawyer or accountant ends for any reason, the enforcement court appoints a bankruptcy administration officer from among the previous candidates.
(5) If an appointment cannot be made from among the previous candidates, the bankruptcy office calls the creditors to meet with a new election agenda.
(6) The decision of appointment is notified to the bankruptcy administration officers by the bankruptcy office.
(7) If the enforcement court appoints a candidate from outside the list as a bankruptcy administration officer, this situation is reported by the enforcement court to the regional board.
Reasons for abstention and resignation of the bankruptcy administration officer
ARTICLE 7- (1) The following persons may refrain from accepting the duty of bankruptcy administration officer:
a) Those who will have difficulty performing this duty due to physical disabilities or chronic illnesses.
b) Those who hold more than one bankruptcy administration duty.
c) Those who have another excuse to be accepted by the enforcement court.
(2) The bankruptcy administration officer may request to resign if a justified excuse arises.
(3) The request to refrain from acceptance or to resign is notified by a petition to be submitted to the appointing enforcement court within five days from the date the appointment was notified or the excuse arose. Documents regarding these reasons, if any, must be attached to the petition.
(4) The enforcement court decides to accept or reject the request based on an examination of the file.
(5) If the resignation request is rejected, the bankruptcy administration officer continues their duty. If the abstention request is rejected, the officer is obliged to accept. Despite this decision, if the officer continues to refrain, the court immediately appoints another officer according to Article 6 and reports the refraining officer to the regional board.
(6) If the request is accepted, the enforcement court immediately appoints another bankruptcy administration officer according to Article 6.
Obligations and basic principles of the bankruptcy administration officer
ARTICLE 8- (1) The bankruptcy administration officer must comply with the following obligations and basic principles while performing their duty:
a) To perform the duty impartially, objectively, diligently, and personally within the framework of the provisions of the Law, this Regulation, and the rules of honesty.
b) To ensure and protect the confidentiality of secrets learned due to the duty.
c) Not to use the information obtained during the duty to gain a direct or indirect benefit for themselves, their relatives, or third parties.
ç) Not to provide benefits for themselves, their relatives, or third parties by using their duty, title, and powers, not to accept gifts, and not to act as a mediator.
(2) The obligations listed in subparagraphs (b), (c), and (ç) of the first paragraph continue after the termination of the duty.
(3) The duty of the bankruptcy administration officer who acts contrary to the obligations listed in the first paragraph is terminated by the enforcement court. This situation is immediately reported to the regional board and to the Chief Public Prosecutor's Office if the action constitutes a crime.
(4) The bankruptcy administration officer cannot engage in initiatives and actions that could be considered advertising to obtain duties.
(5) A bankruptcy administration officer registered in the list is obliged to accept the duty given to them.
(6) The bankruptcy administration officer is obliged to comply with the ethical principles regulated in the Regulation on Ethical Conduct Principles for Public Officials and Application Procedures and Principles.
(7) When the bankruptcy administration officer becomes aware of an action or transaction incompatible with ethical principles during performance, they notify the enforcement court without delay.
Criminal and civil liability of the bankruptcy administration officer
ARTICLE 9- (1) Those constituting the bankruptcy administration are considered public officials in the application of Law No. 5237.
(2) Those constituting the bankruptcy administration are responsible for damages arising from their faults. These cases are heard in civil courts.
PART THREE
Duties and Working Procedures of the Bankruptcy Administration
Duties of the bankruptcy administration
ARTICLE 10- (1) The duties of the bankruptcy administration are as follows:
a) To act as the legal representative of the bankruptcy estate.
b) To observe the interests of the estate, to preserve the assets of the estate, and to carry out the liquidation by converting the goods into money.
c) To decide on the receivables registered to the bankruptcy estate.
ç) To ask for the bankrupt's statement regarding each receivable claim if possible.
d) To decide on the claims of ownership (replevin) on the goods included in the estate.
e) To file necessary lawsuits and proceedings for the benefit of the estate and to follow those already filed.
f) To take necessary measures for the preservation of secured goods.
g) To make contracts for the benefit of the estate.
ğ) To open letters addressed to the bankrupt.
h) To sell items whose value will decrease or whose preservation will be expensive without delay.
ı) To apply for settlement and arbitration directly for the amount written in the second paragraph of Article 226 of the Law, and with the authorization of the creditors' meeting for larger amounts.
i) To prepare reports in six-month periods regarding the process of liquidation and the plan/calendar of subsequent transactions for the purpose of informing the accepted creditors.
j) To prepare the order of claims (rank list).
k) To show the rejected receivables in the rank list with their reasons.
l) To announce the rank list and the second creditors' meeting.
m) To prepare the distribution table and final account if the rank list becomes final.
n) To give a certificate of insolvency for the unpaid amount to every creditor who has not received their full receivable.
o) To issue an invitation for a new creditors' meeting when deemed necessary.
ö) To perform duties related to the concordat commissioner in bankruptcy concordat.
p) To request the lifting of bankruptcy from the civil court of first instance in case of approval of the concordat in bankruptcy concordat.
r) To submit a final report regarding the liquidation process to the court that rendered the bankruptcy decision after the distribution of funds.
s) To send the decisions taken by the administration to the creditors who applied and deposited the writing and notification expenses shown in the tariff.
ş) To perform other duties arising from the legislation.
Working procedures and principles of the bankruptcy administration
ARTICLE 11- (1) Bankruptcy administration meetings are held upon the request of the officers or any creditor by determining an agenda, based on a call sent by the bankruptcy office director at least seven days before the meeting. The place and time are shown in this call.
(2) The administration meets with the participation of all officers, takes decisions by majority, and meeting minutes are prepared with justifications. A dissenting member writes their dissenting opinion with reasons. A copy is placed in the file.
(3) If all three officers fail to attend, the bankruptcy office director assumes the duty and decides alone. Minutes are also prepared in this case.
(4) If one or two officers participate, the director also joins. If a decision cannot be reached, the process follows the director's vote.
(5) The officer may request information and documents from private and public institutions and communicate directly or through the bankruptcy office.
Fees and expenses
ARTICLE 12- (1) Fees are paid according to the tariff prepared by the Ministry and renewed every two years.
(2) If the duty ends for any reason, the fee is determined by the court.
(3) Fees and expenses are paid based on documents and market values. Documents are kept in the file.
PART FOUR
Supervision and Audit
Supervision
ARTICLE 13- (1) The enforcement court considers the following during supervision:
a) Whether the liquidation process is conducted effectively.
b) Whether officers comply with the legislation.
c) Whether they comply with their obligations.
ç) Whether they act in a way that allows audit.
d) Whether the call for the second meeting is made within a reasonable time.
e) Whether the closing report is submitted within a reasonable time.
f) Whether errors identified by the court are corrected.
g) Compliance with other relevant legislation.
Audit
ARTICLE 14- (1) The bankruptcy office considers the following during audit:
a) Compliance of meeting decisions and accepted claims with the Law.
b) Whether officers act in accordance with the requirements of their duties.
c) Compliance with obligations in Article 8.
ç) Proper submission of expense documents.
d) Whether activity reports are received and acted upon in files where activity is allowed.
e) Compliance with other relevant matters.
PART FIVE
Training of the Bankruptcy Administration Officer
Basic training
ARTICLE 15- (1) Basic training includes theoretical and practical knowledge.
(2) It consists of at least thirty-six lesson hours.
(3) Training is provided by professors, associate professors, or doctors in law, business, economics, finance, and accounting.
(4) It covers general principles of law, execution legislation, reporting techniques, and responsibilities.
(5) Attendance is mandatory. Those missing 1/12 of lessons are dismissed.
Renewal training
ARTICLE 16- (1) Renewal training of at least twelve hours is provided every three years. Registration is not renewed without it.
Certificate of participation
ARTICLE 17- (1) Certificates are issued within fifteen days of completion.
Exemptions from training
ARTICLE 18- (1) Professors, associate professors, and doctors in relevant fields are exempt.
Authorization of training institutions
ARTICLE 19- (1) Training is provided by universities with law faculties, TBB, and TÜRMOB with Ministry permission.
Obligation to provide information
ARTICLE 20- (1) Institutions submit an annual report in January. Failure to do so leads to a warning and possible cancellation of permission.
Cancellation of authorization
ARTICLE 21- (1) Permission is canceled for loss of conditions, improper training, forgery, or upon request.
Audit of training institutions
ARTICLE 22- (1) Institutions are under Ministry supervision and can be audited at any time.
PART SIX
Application to the List, Registration, and Objection
Application
ARTICLE 23- (1) Applications are made to the regional board of the place of residence or activity.
Registration and transfer
ARTICLE 24- (1) Boards register eligible persons for three years. (4) Officers may request transfer to another board list due to change of residence.
Removal from the list
ARTICLE 25- (1) Removal occurs upon request, loss of conditions, breach of ethics, or violation of obligations. (2) Warnings or temporary removal may also be applied.
PART SEVEN
Miscellaneous and Final Provisions
Transitional provision
TEMPORARY ARTICLE 1- (1) Trainings received before this Regulation are not considered for registration. (2) Current officers continue until new lists are announced.
Entry into Force
ARTICLE 29- (1) This Regulation enters into force on the date of its publication.
Execution
ARTICLE 30- (1) The Minister of Justice executes the provisions of this Regulation.