Abstract:

The Law Number 6750 regarding Pledge of Chattels in Commercial Transactions (Law no.6750) published in the Official Gazette no. 29871 on the 28th of October 2016 and entered into force on the 1st of January 2017. In order to extend both the use of pledge as a security right and the variety of the chattels which are to be pledged the law replaces the transfer of the possession with the registration of a notice of the pledge. The article 5/ (1) of the Law no.6750 provides a list of the chattels which are to be pledged while not respecting the rule of numerus clausus. In order to extend the use of pledge, the art. 5/ (6) of the Law no.6750 states that more than one chattel are to be pledged for a single debt. However, the Law no.6750 does not contain any provisions which determine how to be pledged more than one chattels for a single debt. Yet the art. 18 of the Law regarding Pledge of Chattels in Commercial Transactions refers to the provisions regarding mortgages of the Turkish Civil Code (TCC) in terms of situations for which there are no provisions. Thus where more than one chattel to be pledged, the art. 855 of the TCC shall be applied with reference to the art. 18 of the Law no.6750. The aim of this study is to examine the conditions for the establishment of a lien on more than one chattel according to Law no.6750 and the effect of changes that occur after the lien has been established.

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