Sequence Schedule In The Bankruptcy And Execution Law
WHAT IS THE ORDER LIST?
If there is more than one creditor in an enforcement proceeding and the money in the enforcement file is not sufficient for all creditors, the enforcement office puts the creditors in a certain order. This order is called the order list. According to Article 140 of the Bankruptcy and Execution Law, “If the sale amount is not enough to fully pay the receivables of all creditors, the execution office makes a list of creditors”. The ranking list is an important document in terms of determining which receivables will be met in which priority.
The reason for creating the order list is that the debts of the creditors participating in the attachment cannot be paid in full. If there is no problem in the payment of the debts of the creditors, there will be no need for a ranking list.
The order list may be in question in both foreclosure and bankruptcy proceedings. In foreclosure, the order table is made after the sale, while in bankruptcy, the order table is made before the table goods are converted into money.
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