If there are irregularities after the execution tender is completed, a lawsuit for termination of the tender may be filed. EBL article 134.
Reasons for Termination
- Irregularity in the sales announcement
- Deficiency in valuation
- Awarding the tender to the wrong person
- Failure to notify the payment order
- Unqualified Buyer
Claimants
- Debtor
- Creditor
- Person who participated in the tender
- 3rd party whose rights or interests were damaged by the tender
Duration
- 7 days from the tender
- If the period is missed, the tender becomes final
Court
Enforcement court (simple trial).
Supreme Court 12. HD
12. HD adopts that in the termination of the tender, it must be "reasonable equivalent of the price on the date of the tender", and that a decision to terminate may be given for prices lower than 10%.
Consequences
- Tender canceled
- A new tender is made
- The price paid by the buyer is refunded
- Land registry/registry cancellation
Compensation
Full judicial action is possible (administrative court) against the enforcement directorate that awarded the wrong/malicious tender.