Stay of execution is a decision to withdraw the execution that the debtor will receive from the court of appeal or appeal by depositing a certain deposit in the execution file, and the execution process will be stopped until the request or appeal file is completed.
33 Of the Execution and Bankruptcy Code of stay of execution operations. It is regulated in the article. According to this article:
“Upon notification of the executive order, the debtor may apply to the enforcement court with a petition within seven days to appeal that the debt has expired or has been destroyed or redeemed. If the claim for redemption or destruction has been made or duly certified by the competent authorities, or if the execution has been approved by a promissory note in the enforcement agency, or in the enforcement court, or in front of the court, the execution is suspended.”
Terms of the Stay of Execution Process:
In order to make a decision to cancel the execution, the petition must be accompanied by the words “The execution is Canceled” or “The stay of execution is Requested” when the case is requested or appealed to the petition.
The decision of the court of first instance must be duly communicated to the other party.
The deposit fee must be deposited in the execution file together with the quarterly interest.
The Process of Execution of the Transfer:
In order to make a decision on the stay of execution, first of all, the follow-up initiated with a document of the nature of ilam or ilam must be duly notified to the debtor party. After the notification has taken place, the debtor must first obtain a “apostil” from the court of first instance that the decision will be appealed/appealed, which is the basis of enforcement proceedings. Apostil is a consensus that the decision of the court of first instance was appealed/appealed. At the next stage, the borrower must deposit a guarantee in the execution file that meets the three-month interest rate of the current debt along with the current debt in the file. This deposit can be cash or can be deposited in the form of a letter of guarantee received from the bank. In order to find out the full amount of the deposit, it is necessary to submit a request for a cover(file) account by the debtor to the enforcement file. In this cover account, the principal receivables, fees, interest charges and attorney’s attorney’s attorney’s fee are collectively calculated.
The debtor who deposits his deposit and receives the deposit must then obtain a mehil certificate from the enforcement file. Mehil’s passport is a document indicating the period taken to make the decision to cancel the execution. If the borrower’s guarantee is appropriate, he will receive a sixty-day mehil passport to apply to the enforcement directorate and make a decision to cancel the execution. During this process, the execution file will be stopped until the decision is made to cancel the execution and the decision is made to approve or destroy the file from the Supreme Court. If the debtor fails to bring a decision to october the execution from the Supreme Court within this period, he can again apply to the enforcement agency and request an additional thirty-day period of license. If the borrower does not make a decision to october the performance within this additional period, the creditor will be able to request that he/she will receive the deposited collateral from the enforcement agency for collection purposes.
After all these stages have been completed, in order to issue a decision on deportation, it is necessary to apply to the appeal or appeal authority with a request petition informing that the security has been deposited in the enforcement file and a mehil certificate has been issued. With the decision to Cancel the Execution that the borrower will receive from the appeal or appeal authority, the execution file will stop completely and no action will be taken to collect the debt until the court of first instance decides on the announcement. If the appeal or appeal authority overturns the decision on the matter, the debtor will be able to recover the entire amount he has deposited as collateral from the enforcement agency. If the decision is upheld by the court of first instance, this time the creditor will collect what he will receive from the amount deposited as collateral in the enforcement file.