Sequence Schedule In Execution Law
A copy of the order list prepared by the Directorate is notified to the creditors by the enforcement office. If there is a violation of the bankruptcy law during the preparation of the order list, the creditor may file a complaint. What can the creditor object to in the order list? The creditor may first object to the order in the order list. For example, I should be in first place, not in fourth place. Another issue that the creditor may object to is the order of another creditor in the order list. For example; Person A may be a creditor, yes, but A should be in the fourth place if you have ranked him first. The other issue that the creditor may object to is that a creditor in the order list is not a creditor. For example; he can say that you have listed B, but B is not actually a creditor.
This is how the objection and complaint to the order list is made. If the creditor objects to the order given to him/her, he/she applies to the complaint regarding the order list. The provisions regarding the complaint are general provisions. All creditors may apply to the complaint regarding the order list. The duration of the complaint regarding the order list is 7 days. If the execution court decides to amend or correct the order list upon the complaint, the order list shall be re-announced in its amended form. A new complaint can be filed against the amended order list.
There is also a lawsuit against the order list. This lawsuit is filed against the bankruptcy estate. The subject of the lawsuit is that the creditor, whose claim has been rejected in whole or in part by the bankruptcy administration, requests to be included in the order list, claiming that the rejection is unfair. In other words, the creditor says that my claim has never been written. According to Article 235 of the EBL, those who object to the order list are obliged to file a lawsuit to the commercial court in the place where the bankruptcy is decided within fifteen days from the announcement of the list. In other words, the lawsuit is filed in the commercial court in the place where the bankruptcy decision is made
If there is more than one creditor, the order of priority in the order table is as follows.
Public Receivables
Pledged Receivables
Privileged Receivables
The order of ranking in foreclosure is made for the distribution of the sale proceeds of a foreclosed property. The order of ranking in bankruptcy is different. In the order list in bankruptcy, those who have receivables and those who claim claims on the assets of the bankrupt are shown.
The order list in bankruptcy is regulated in Article 233 of the EBL and the form of the order list and the receivables that are not accepted in the order list and the objection to the order list are regulated in the following articles.
According to Article 233 of the Bankruptcy and Insolvency Law, “After the application period for the registration of receivables has expired and within two months at the latest from the election of the bankruptcy administration, a list showing the order of creditors is made by the bankruptcy administration according to the provisions written in Articles 206 and 207 and left to the bankruptcy office. In mandatory cases, if the bankruptcy administration applies to the execution court before the expiration of two months, the execution court may extend this period for a maximum of two more months for one time only”.
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