AFTER APPLYING FOR ENFORCEMENT PROCEEDINGS, THE PAYMENT ORDER IS NOTIFIED TO THE DEBTOR, AND AFTER THE LEGAL PERIODS HAVE ELAPSED, FORECLOSURE CAN BE INITIATED ACCORDING TO THE TYPE OF FOLLOW-UP. DURING THE LEGAL PERIODS THAT MUST PASS AFTER THE ENFORCEMENT PROCEEDINGS INITIATED AGAINST THE DEBTOR, THE MALICIOUS DEBTOR MAY TRANSFER THE ASSETS THAT CAN BE FORECLOSED ON TO SOMEONE ELSE OR TAKE OTHER ACTIONS TO SMUGGLE THE GOODS. FOR EXAMPLE, THE BORROWER CAN SELL HIS HOUSE OR CAR REGISTERED ON IT, WITHDRAW HIS MONEY FROM BANK ACCOUNTS, SELL HIS SHARES ON THE STOCK EXCHANGE, CONVERT HIS VALUABLE AND SALEABLE MOVABLE PROPERTY INTO MONEY BY SELLING IT. IN ORDER TO PREVENT THE BORROWER FROM SMUGGLING GOODS, IT IS NECESSARY TO TAKE A PRECAUTIONARY FORECLOSURE DECISION BEFORE PROCEEDING WITH ENFORCEMENT PROCEEDINGS AGAINST THE BORROWER. IN GENERAL, A PRECAUTIONARY LIEN IS A TYPE OF LIEN THAT IS BASED ON A COURT DECISION APPLIED IN CASES WHERE THE BORROWER HAS STOLEN GOODS, AVOIDED PAYING THE DEBT OR MADE A COMMITMENT WHILE THE BORROWER HAS FLED, AND ALL THIS WAS DONE AS A DOWN PAYMENT FROM THE CREDITOR FOR POSSIBLE DAMAGES TO THE DEBTOR’S PROPERTY.
IN ORDER TO MAKE A PRECAUTIONARY FORECLOSURE DECISION AGAINST THE BORROWER, FIRST OF ALL, THE PLEDGE YOU WILL RECEIVE MUST NOT BE SECURED. FOR EXAMPLE, A BANK THAT DOES NOT PAY THE DEBT OF A HOUSE SOLD BY PLACING A MORTGAGE IS AGAINST THE BORROWER OR DOES NOT PAY THE DEBT OF A CAR WITH A PLEDGE ON IT
AN PRECAUTIONARY FORECLOSURE DECISION CANNOT BE MADE AGAINST THE DEBTOR. THE SECOND CONDITION FOR BEING ABLE TO REQUEST A PRECAUTIONARY FORECLOSURE IS THAT THE DUE DATE OF THE RECEIPT HAS ARRIVED. A PRECAUTIONARY FORECLOSURE CANNOT BE REQUESTED IF THE LOAN IS NOT DUE.
A PRECAUTIONARY FORECLOSURE IS REQUESTED BY A PETITION TO BE SUBMITTED TO THE FIRST INSTANCE LAW OR FIRST INSTANCE COMMERCIAL COURT. THIS PETITION IS EXAMINED ON FILE WITHOUT THE NEED FOR A HEARING AND DECIDED IF THERE ARE CONDITIONS. THE DECISION ON PRECAUTIONARY FORECLOSURE IS SUBJECT TO A GUARANTEE CONDITION. THE GUARANTEE IS THE BLOCKING OF AN AMOUNT OF UP TO TEN OR FIFTEEN PERCENT OF THE RECEIVABLE TO THE COURT TELLER OR THE SUBMISSION OF A BANK GUARANTEE LETTER. THE PURPOSE OF THE GUARANTEE IS TO APPLY FOR UNFAIR PRECAUTIONARY FORECLOSURE AND ENSURE THAT THE BORROWER’S VICTIMIZATION IS ELIMINATED. AFTER THE FOLLOW-UP IS FINALIZED, THE GUARANTEE CAN BE WITHDRAWN AFTER THE APPLICATION TO THE COURT.
BY BRINGING THE DECLARATION RECEIVED FROM THE FIRST INSTANCE LAW OR FIRST INSTANCE COMMERCIAL COURT TO THE ENFORCEMENT OFFICE, IT CAN GENERALLY BE FORECLOSED ON THAT DAY TO APPLY A PRECAUTIONARY FORECLOSURE TO THE DEBTOR’S ADDRESS OR REQUESTED ADDRESSES, THE DEBTOR’S ASSETS CAN BE QUESTIONED WITHOUT OPENING A FILE BY THE ENFORCEMENT OFFICE AND NOTIFYING THE DEBTOR, THE FORECLOSURE PROCESS CAN BE APPLIED ON THESE GOODS ON THE SYSTEM.
IT SHOULD ALSO BE NOTED THAT A PRECAUTIONARY LIEN CANNOT BE REQUESTED ON EVERY PURCHASE. ACCORDING TO THE DOCUMENT (CHECK, PROMISSORY NOTE, BOND, ETC.) AND MUST BE BASED ON THE PROCLAMATION.
PRECAUTIONARY FORECLOSURE PROCEEDINGS, PRECAUTIONARY FORECLOSURE DECISION IN ACCORDANCE WITH ARTICLE 261 OF THE ENFORCEMENT BANKRUPTCY CODE, FROM THE AUTHORIZED ENFORCEMENT DIRECTORATE (THE APARTMENT LOCATED WITHIN THE JUDICIAL PERIMETER OF THE COURT)WITHIN 10 DAYS OF THE DATE OF ITS ISSUANCE
THE EXECUTION OF THE VERDICT MUST BE REQUESTED. OTHERWISE, THE DECISION ON THE PRECAUTIONARY FORECLOSURE WILL BE RESCINDED. IF THE SALE OF THE FORECLOSED SECURITIES IS NOT REQUESTED WITHIN 6 MONTHS OR THE SALE OF THE FORECLOSED REAL ESTATE GOODS WITHIN 1 YEAR, THE PRECAUTIONARY FORECLOSURE IS ALSO REMOVED.
ON THE OTHER HAND, IF THE DEBTOR OBJECTS TO THE PAYMENT ORDER AFTER THE PRECAUTIONARY FORECLOSURE IN ACCORDANCE WITH ARTICLE 264/2 OF THE ENFORCEMENT BANKRUPTCY CODE, THIS APPEAL WILL BE IMMEDIATELY NOTIFIED TO THE CREDITOR OR HIS DEPUTY. THE CREDITOR OR HIS DEPUTY MUST ASK THE DEBTOR TO REMOVE THE OBJECTION TO THE AUDIT AUTHORITY WITHIN 7 DAYS. OTHERWISE, IN ACCORDANCE WITH ARTICLE 264/4 OF THE ENFORCEMENT BANKRUPTCY CODE, THE PRECAUTIONARY LIEN IS CONSIDERED NULL AND VOID.