A bill cancellation lawsuit is a type of lawsuit filed to cancel lost, stolen or destroyed bills and to protect the rights of the holder. Thanks to this lawsuit, the holder who does not have the bill can claim his receivables even if he cannot present the bill.
Required Conditions for Opening a Case:
• Loss or destruction of the promissory note.
• The holder does not hold the bill.
• The holder can prove that he is a creditor.
Litigation Process:
• An application is made to the competent Commercial Court of First Instance with a petition and necessary documents.
• If the court determines that the document is lost or destroyed, it decides to cancel the document.
• After the cancellation decision is finalized, the holder can claim his receivable without a promissory note.
Matters that must be included in the petition:
• Draw date and drawer information of the bill
• Price and maturity of the bill
• How the bill was lost or destroyed
• Evidence showing that the holder is a creditor
Methods of Showing Evidence:
• Photocopy or copy of the promissory note
• Witness statements
• Expert report
Things to Consider Regarding the Promissory Note Cancellation Case:
• The duration of the case is 6 months. If a lawsuit is not filed within this period, the promissory note cannot be cancelled.
• If the holder cannot prove that the bill has been lost or destroyed, his case will be rejected.
• If the promissory note is transferred to any third party before the cancellation decision becomes final, this transfer is invalid.
When should a promissory note annulment case be filed?
• When it is learned that the bill has been lost or destroyed, it is recommended to file a lawsuit as soon as possible.
• If a lawsuit is not filed before the lawsuit period expires, the holder may not be able to collect his receivable.
