Losses due to foreign currency obligations
General assembly meeting
Remedial measures
The Communique on the Procedures and Principles regarding the Application of Article 376 of the Commercial Code (6102) was published in the Official Gazette on 15 September 2018 and entered into force on the same date. It determines the procedures and principles that will apply to certain companies (ie, joint stock companies, limited liability companies and limited partnerships whose capital is divided into shares) in cases of capital loss and insolvency.
Losses due to foreign currency obligations
Turkish lira has recently dropped in value against a number of foreign currencies. As a result, Turkish companies that are indebted in said f…
Read the full article at: https://www.internationallawoffice.com/Newsletters/Insolvency-Restructuring/Turkey/Acar-Ergonen-Law-Firm/Communique-on-procedures-and-principles-regarding-capital-loss-and-insolvency-introduced