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The Newly Published Communiqué Presents Optional Remedial Measures to Companies in Capital Loss or in Severe Debt

BY : Serra Hızıroğlu - PartnerMelis Gençol - Associate

Ministry of Trade published “Communiqué on the Rules and Procedures Regarding the Implementation of Article 376 of the Turkish Commercial Code (“Code”)” (hereinafter will be referred to as the “Communiqué”).

The purpose of this Communiqué is to set out the remedial measures and the rules and procedures to be followed by joint stock companies, limited liability companies and limited partnership companies divided into shares (hereinafter will collectively be referred to as “Company”) which are i) suffering from capital loss, or ii) are in severe debt.

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