TY  - JOUR
TI  - THE LEGAL NATURE OF THE GENERAL ASSEMBLY RESOLUTION REGARDING WHOLESALE OF SUBSTANTIAL PART OF COMPANY ASSETS UNDER TURKISH CORPORATIONS LAW
AB  - Pursuant to article 408 paragraph2 subparagraph (f) of the New TurkishCommercial Code, “wholesale ofsubstantial part of company assets”is an unassignable and inalienablecompetence of the general assemblyand therefore, requires a generalassembly resolution. Article 538/2 ofthe Code foresees the same solutionfor liquidation process. Our paper willfocus on a particular problematic thatarises out the said provisions. In caseswhere a sales agreement is concludedbetween the company and a third partydespite the inexistence of a generalassembly resolution, would the salesagreement be valid and binding? Webelieve that articles 408/2 (f) and538/2 aim to regulate the distributionof powers among the organs of thecompany and the general assemblyresolutions required by these provisions,as to their legal nature, shall have aninternal character. Therefore, we believethat inexistence of the general assemblyresolution required by the said articlesshall not affect the validity of the salesagreement concluded between thecompany and the third party.
AU  - AYOĞLU, TOLGA
PY  - 2017
JO  - Law and Justice Review
VL  - 0
IS  - 14
SN  - 1309-9485
SP  - 39
EP  - 52
DB  - TRDizin
UR  - http://search/yayin/detay/290097
ER  -