Authorisation of sale to the debtor pursuant to article 111/a of The Execution and Bankruptcy Law

The amendment introduced by Law No. 7343, dated 24.11.2021, to the Enforcement and Bankruptcy Law No. 2004 brought into effect Article 111/a, titled "granting the debtor the authority to sell," following Article 111. With the regulation on the authorisation of sale to the debtor, an alternative to sale by auction and sale by bargaining has been introduced for the conversion of the debtor's seized goods into money. This study examines the method of encashment of seized assets by granting the debtor the authority to sell. In this framework, firstly, the procedures for the encashment of seized goods in the enforcement law are examined, and the place of the authorisation of sale among these encashment procedures is evaluated. Then, the theoretical discussions on the legal nature of the authorisation of sale to the debtor and the terminology problem regarding the preferred term in the regulation are included. Finally, the applicability of the authorisation of sale to the debtor in terms of the types of proceedings and the problems that have arisen or may arise in practice have been addressed based on the process of authorisation of sale, and a solution to these problems has been tried to be proposed.