NEWSLETTER-2019-metin

40 NEWSLETTER 2019 debtor that acting against this provision brings with it criminal liabil- ity.” In the first paragraph of Article 86 of the EBL, the consequences of seizure on movables with regard to the debtor are regulated, and how the power of disposition will be changed as a result of seizure. “In the first paragraph of the said provision of the EBL, the debtor’s power of disposition on the seized movable is only possible if prior consent of the creditor and approval of the enfor- cement officer are taken. In the provision, actually the debtor’s power of disposition is not removed; it is only restricted in favor of its creditors. The debtor can make disposition at any time if the consent of the creditor and approval of the enforcement officer are taken. The issue as to what sanction the debtor will face if he ma- kes disposition without obtaining these permissions is discussed in the second sentence of the first paragraph. Accordingly, when the debtor transfers a seized movable to a third party without obtaining the consent of the creditor and the permission of the enforcement director, it faces criminal liability (EBL Art 86/I, s.2). Apart from this, provided that the possibility to acquire in good faith is preserved, the rights acquired by the person who take over the seized property, shall be deemed void to the extent that it harms the creditor’s rights over the acquired property (EBL Art. 86/III). More precisely, although the debtor has transferred the seized property to a third party, the possibility of acquiring the rights for the creditor who has stipulated the seizure still remains reserved.” 10 However, for the debtor to make disposition on its seized mov- ables, it is necessary that the said movables must be left to him. Actu- ally, it is also not possible for the debtor to make disposition as to the seized movable if it has been handed over to a trust or is kept by the enforcement office 11 . Considering that share certificates may be seized according to the provisions as to seizure of movables, as per Articles 88/1 and 86 of the EBL, and as regulated in Article 133/2 of the TCC, the seized share certificates are transferrable if the prior consent of the creditor and 10 Yüksel Orhun , p. 2080. 11 Yüksel Orhun , p. 2081.