What is bankruptcy? Who is considered bankrupt?

What is bankruptcy? Who is considered bankrupt? | Lawyer in Izmir | Attorney Mustafa Yolcu

What does "bankrupt" mean in legal terms?

İflas kararı verilmek ile birlikte iflas açılır, borçlu “müflis” sıfatını alır. Here, "bankrupt" is used to mean a debtor who has gone bankrupt. At the time bankruptcy proceedings are initiated, all the bankrupt's attachable assets and rights, regardless of their location or who possesses them, constitute an asset bankruptcy estate (active estate).

Türk Dil Kurumu’na Göre Müflis Nedir?

bankrupt adjective, law, economics, Arabic: muflis

Bankrupt.

Bankruptcy under Legal Legislation

Regulation of the Enforcement and Bankruptcy Law

Announcement regarding the opening, closing, and cancellation of bankruptcy proceedings.
Article 55 — In the announcement of the bankruptcy decision pursuant to Article 166 of the Enforcement and Bankruptcy Law and the announcement of the decision regarding the closure of the bankruptcy pursuant to Article 254, the bankruptcy file number, Name and surname of the bankrupt, The address, the court that issued the decision to open or close the bankruptcy proceedings, the date and number of the decision, and a summary of it are written down.
According to Article 182 of the Enforcement and Bankruptcy Law, the bankruptcy file number is included in the announcement regarding the termination of bankruptcy; name of the bankrupt, The applicant's surname and address, the court that issued the decision to lift the bankruptcy, the date and number of the decision, and a summary of it are written.
According to Article 179/a of the Enforcement and Bankruptcy Law, the announcement regarding the postponement of bankruptcy proceedings must include the court that issued the decision, the date and number of the decision, the name and address of the debtor company or cooperative, and the operative clause of the decision.

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