Liability of Controlling Company for Debts of Controlled Company INTRODUCTION Though legally independent from each other, organizations formed on the basis of control relationship by more than one company are called a group of companies. Turkish Commercial Code No. 6762 lacked a specific regulation related to organizations that are formed as such. However, frequent encounters…
The Exceptional Turkish Citizenship Exceptional Turkish Citizenship by Investment According to the recent amendments to the Regulation on the Implementation of Turkish citizenship Law, a foreigner who fulfils one of the following conditions can obtain Turkish citizenship by a presidential decree: First: Turkish citizenship by buying an immovable property Turkish citizenship can be obtained by…
Employee’s Prohibition of Competition Employee’s Duty of Loyalty Throughout the Duration of the Employment Contract Duty of loyalty is one of the most important obligation of the employee during the continuation of employment relationship. Duty of loyalty is regulated by the Turkish Code of Obligations. Accordingly, the employee’s duty of loyalty covers the obligations of…
Compliance in Joint – Stock Companies in the Scope of Turkish Law 1. The Meaning of Compliance Compliance, as a technical legal term in Turkish law specifies the meaning of “to comply, to adjust, to consent”. Compliance is seen mainly within the context of corporate law doctrine and it is used in the place of…