PodcastNew regulation seeks to transfers unclaimed seized goods to Turkish Red Crescent
The Justice Ministry announced an addendum to the Debt Enforcement and Bankruptcy Code that seeks to facilitate the liquidation of unclaimed goods, and their transfer to the Turkish Red Crescent (Kızılay) as a last resort.
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Turkey's Justice Ministry has announced an addendum to the Debt Enforcement and Bankruptcy Code, seeking to facilitate the liquidation of unclaimed goods, and their transfer to the Turkish Red Crescent (Kızılay) as a last resort.
The regulation will be implemented as of Nov. 1, according to the reporting by Anadolu Agency.
The ministry stated the beneficiaries and public interest were considered in the liquidation of the seized properties, which no longer need to be kept legally. Accelerating the process and avoiding waste were the objectives of the regulation, according to the ministry.
The regulation outlines a three-step process for the liquidation and transfer of unclaimed seized assets. It stipulates that in case the transfer of ownership is not realized despite all processes being carried out, the goods in question will be transferred to the Turkish Red Crescent free of charge in order to “prevent damage to the country's economy and the environment that would occur if the goods were left to rot.”
The Turkish Red Crescent was in the spotlight following the Feb. 6 earthquakes for seeking financial compensation in return for aid. The foundation admitted to selling tents and food to the AHBAP Foundation, a charity organizing relief efforts in the area. Red Crescent head Kerem Kınık resigned months after the incident when President Recep Tayyip Erdoğan stated he was “saddened” to hear the Turkish Red Crescent sold tents.
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