Turkish Law

Turkish law forums => TURKISH BUSINESS AND FINANCIAL LAW => Topic started by: bukshi on January 15, 2011, 11:16:18 AM



Title: URGENT: Turkish Limited liability company: removal of a shareholder?
Post by: bukshi on January 15, 2011, 11:16:18 AM
Greetings to everyone.

I have a question related to a limited liability company that we have incorporated in Turkey.

Two of the shareholders owning together 160 capital shares would like to obtain the removal of the other shareholder, a turkish citizen owning 40 capital shares, because after the incorporation of the company, the foreign shareholders found out that the turkish shareholder has committed numerous frauds in the past and has several hanging lawsuits filed against him. He has also committed some fraudulent acts against the other shareholders.

We would like to remove that shraholder and have another turkish citizen buy out his capital shares, but the shareholder in question would not agree to sell his shares.

Therefore, I would be very thankfull to any of you who could give me an advice as to the way to proceed in this situation and concerning any alternative solutions to this matter.

I thank you in advice.