There is no restriction on the power of a debtor to dispose of his assets before the attachment of his goods or adjudication of his bankruptcy. For this reason, it is prevalent that debtors, who totter on the verge of bankruptcy or face the danger of attachment, make some doubtful dispositions. To avoid these doubtful [...]
Debts arising from legal relations between the parties may not always be a pecuniary debt. For example, debts such as construction of a building, enabling to establish a personal relationship with the child, the guardianship of whom is given to the mother, and father or the return of the jewelry given to the bride and [...]
The creditors recourse to the assets of the debtor when the debtor does not perform his obligation. The elements of the assets of the debtor constitute a sort of guarantee for the creditors. The debtor is liable for his obligation with all of his goods, rights and claims as a rule. However some goods of [...]
Since the cancellation of the savings regulated in the Turkish Execution and Bankruptcy Law is a personal claim case that gives the creditor a foreclosure and sale authority, the transfer and sequestration of this receivable is possible. The condition that the saving subject to the cancellation proceedings developed by the Court of Cassation should be [...]
Exit A Limited Liability Company And Contribution To The Exiting: Limited liability company is the most preferred partnership in Turkey. Facility in the establishment of a company, having a legal entity and as a partnership, being responsible with only assets against the creditors are the main subjects of the company to make it favored. The [...]
Limited company has the feature of being the only company which has an upper limit on the number of the partners under the Turkish law. According to the article 574 of the Turkish Commercial Code, the number of the partners in a limited company shall not exceed fifty. This provision is one of the few [...]
Important innovations are provided within the Turkish Commercial Code (TCC, No. 6102) in regard to the limited liability companies law. Such changes are seen in the provisions relating to voting rights and general meeting quorum as well. According to Turkish Commercial Code, limited company general meeting resolutions are segregated into three as normal resolutions, important [...]