Communicated on 18 December 2017
SECOND SECTION
Application no. 34394/08
LUCAS ELEKTRİK SAN VE TİC A.Ş.
against Turkey
lodged on 16 July 2008
SUBJECT MATTER OF THE CASE
The application concerns the partial payment made to the applicant company for its account at İktisat Bankası T.A.Ş. (“İktisat Bank”), following the latter’s takeover by the Savings Deposit Insurance Fund (Tassarruf Mevduatı Sigorta Fonu). The applicant company brought proceedings following the bank’s objection to the enforcement proceedings it had initiated. The Istanbul Commercial Court dismissed the case, indicating that it did not agree with the expert reports, which concluded that the bank could not be considered to have been abused. The court found that the amount deducted from the applicant’s account had been accumulated by the application of excessive interest rates, which had been offered by the bank to provide money flow during a period of financial difficulty, and that the applicant company had exploited the bank’s situation by profiting from those rates.
The applicant complains of a violation of its right under Article 1 of Protocol No. 1 to the Convention.
QUESTIONs tO THE PARTIES
Has the applicant company been deprived of its possessions in the public interest, and in accordance with the conditions provided for by law, within the meaning of Article 1 of Protocol No. 1, as a result of the seizure of part of its account at İktisat Bank, corresponding to the amount accumulated by “overnight interests”, following that bank’s transfer to the Savings Deposit Insurance Fund?
In particular, did that deprivation impose an excessive individual burden on the applicant (see Immobiliare Saffi v. Italy, [GC], no. 22774/93, § 59, ECHR 1999-V)?
Full & Egal Universal Law Academy