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Commercial Law
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Facilitated Merger 2 August 2016
Merger can be defined as establishing a new Corporation through consolidation of two or more Corporation or joining of a Corporation to another existing Corporation. It is regulated in Article 136 and the rest of Turkish Commercial Code, and according to Turkish Commercial Code, merger is occurred by acquiring the shares of the transferee company by the partners of the predecessor company, in accordance with a rate by considering the predecessor company’s properties which join to the transferee company.
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Factoring Agreements Under Turkish Law 6 October 2015
Factoring is, generally, the transfer of accounts receivable on all kinds of sale of goods and services basis by the business holding them—in order to obtain cash payment of the accounts before their actual due date, benefit from financing or factoring warranty —to an agency known as a factor.
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Islamic Financing: Notion and Key Instruments 22 July 2015
1. What is Islamic Financing?
Islamic financing or Islamic banking as the main pillar of the Islamic financing has been traditionally defined as the system of banking or banking activity that is consistent with the principles of theShari'ah (Islamic rulings). In its core, Islamic banking has the same purpose as conventional banking which is to make money by lending out capital, except that it operates in accordance with the rules of Shari’ah.
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Liability of Members of Board of Directors Regarding Public Debts of Joint Stock Companies 14 July 2015
As it is possible to collect public debts of a joint stock company from its legal representatives, it is of the importance to determine the scope of such liability. Below is a general review regarding the liability of legal representatives of joint stock companies, who are appointed in accordance with the Turkish Commercial Code No. 6102 (“TCC”), against the public debts of the same.
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Financial Leasing Agreements Concluded by Sale and Lease Back Method 17 June 2015
Financial leasing agreements gained legal force under Turkish Law with the Financial Leasing Law No. 3226 dated 28 June 1985 (“Annulled Law”) and Statutory Decree No. 90 dated 30 September 1983 on Loan Transaction. Said legislation had remained in force for almost 30 years; however, considering the practical drawbacks and the necessities in business life, it has been repealed with the Financial Leasing, Factoring and Financing Companies Law No. 6361 dated 13 December 2012 (Law No. 6361).
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Family Corporations and The Legal Problems Associated with Them 4 June 2015
Most of the family corporations, which play an important role in the trade life, cannot institutionalize because of the multiple shareholding structures, showing emotional approach instead of the corporate approach and the management problems, and thus they fade from the trade life without being transferred to the third generation. Mostly, the multi-headed structure of the family corporations, the blockages occurring in the process of decision-making and the internal conflicts among the family members restrain these companies from keeping up with the modern trade life and prevents the company, which struggles with these problems, from developing and growing as a result of which directs the same to the inevitable end.
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Partnership of Success: Public Private Partnerships 20 October 2014
In recent years, one of the most popular topics in the business world is “Public Private Partnership” (“PPP”) which is a method to establish a partnership between a public entity and a private company for the realization of some sizeable investments and the provision of the related services whereby the construction and performance risks are allocated to the private entity.
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