Termination of Movable Pledge in Commercial Transactions

Commercial Enterprise Pledge Law (TITRK - Law No. 1447), which entered into force in 1971, left its place in Law on Pledges over Movable Assets in Commercial Transactions (Law No. 6750), after 46 years, and this amendment brought about radical changes in the "pledge". TITRK, which entered into force on 01.01.2017, has increased the number of legal entities that could be a subject of pledges and aimed at facilitating access to finance by all stakeholders, especially SMEs, merchants, tradesmen and commercial entities, opening up the possibility of pledging even some of the assets of commercial enterprises and the "lex commissoria prohibition" which prevents the transfer of the pledged property to the creditor's property in case of non-payment of the debt. The amendment made in doctrine has been thoroughly discussed and handled in many respects over a period of about one year. At the core of these discussions is the "property of the pledge." The ending is as important as the establishment of the pledge. At a time when all his attention was gathered on the establishment of the pledge, the termination of the pledge was taken into the second plan and ignored by many authors in doctrine. With this article, the subject of the termination of the pledge, which has not been discussed much in the doctrine, will be examined thoroughly in comparison with the old law and there will be answers to some cases, which there is a lacunae in law