A frequently asked question in international road transport is, "Is the carrier responsible for the accuracy of customs documents?" This issue should be considered within the scope of the CMR Convention, TCC Article 860, and Customs Law No. 4458. According to the CMR Convention, the Carrier is Not Responsible for the Accuracy of Documents Article 11 [...]
Acquisition of real estate by foreigners is regulated under Land Registry Law. Until 2012, Turkey requested reciprocity form the foreigners’ state of origin to allow their citizens to acquire real estate in Turkey.
Acquisition of real estate by foreigners is regulated under Land Registry Law. Until 2012, Turkey requested reciprocity form the foreigners’ state of origin to allow their citizens to acquire real estate in Turkey.
AUTOMATIC TERMINATION CLAUSES UNDER TURKISH LAW With the increase of electricity trading volume in Turkey, market players tend to use standardized trading contracts which are widely used in Continental Europe1. Along with such agreements, new risk management systems are introduced into Turkish legal market. These kinds of contracts include, risk management provisions regulating bankruptcy case of [...]
Execution Proceedings under Turkish law Introduction Creditors, whose receivables (monetary receivables or guarantees) are not paid by debtors, are entitled to initiate execution proceedings against the debtors through execution offices. In Turkey rules to be applied to the execution proceedings are regulated under the Enforcement and Bankruptcy Law numbered 2004 dated 9 June 1932 (“EBL”). [...]
LIQUIDATION OF A FOREIGN BRANCH OFFICE UNDER TURKISH LAW Introduction Instead of establishing a Turkish company, foreign corporate entities prefer to establish a Turkish branch office in order to operate in Turkey. As Turkish companies these branch offices can also be liquidated. Liquidation of branch offices is subject to provisions valid for liquidation of joint stock [...]
EXPULSION OF SHAREHOLDERS UNDER TURKISH COMMERCIAL CODE NO. 6102 Introduction Under Turkish Commercial Code (“TCC”) the liability of shareholders of a joint stock company is limited with the payment of the contributed share capital (“single dept principle - tek borç ilkesi”). According to this principle, save for exceptions stipulated under the TCC, no obligation shall be [...]
General Comparison of LLCs and JSCs Introduction Under Turkish law, most preferred corporate types by investors are limited liability companies (“LLC”) and joint stock companies (“JSC”). This memorandum aims to provide general information regarding Turkish LLCs and JSCs by comparing main features of the mentioned company types. More information on specific points requires further analyses. [...]
