Article
Transfer Of Substantial Part Of A Joint Stock Company’s Assets Under Turkish Law
Wholesale of substantial part of a joint stock company’s assets require shareholders’ approval under Turkish Commercial Code numbered 6102 dated 13 January 2011 (“TCC”) art. 408/2(f). From a comparative law perspective, jurisdictions that impose shareholder approval requirement for transfers of corporate assets span a range of legal systems, such as Germany, Delaware, Switzerland, South Africa or Philippines. Such requirements are typically designed to protect shareholders’ interests and to ensure major transactions do not jeopardize the company’s ability to pursue its business.
Kabine Law Office