Turkey: Shareholders

Turkey's Constitutional Court has struck down provisions requiring general assembly approval for expulsion lawsuits in two-partner limited companies, fundamentally altering how partnership disputes can be resolved when one partner systematically obstructs company operations. The ruling addresses a critical deadlock where the partner facing expulsion could block the very vote needed to initiate legal proceedings, effectively preventing judicial review of legitimate grievances.

Joint ventures are never formed with the expectation of problems and failure. That kind of mentality would go against both the spirit of a joint venture and the realities of commercial life. In the early stages, the parties usually share a common, commercial goal, built on a foundation of trust. However, while joint ventures typically begin with high expectations, their long-term success depends less on optimism and but more on how well they are structured from a legal and organizational perspective.

According to the Foreign Direct Investments Law No. 4875 foreign investors are generally treated in the same way as domestic investors in Turkey. They are free to make investments in various ways including establishing companies (with 100% foreign capital ownership), acquiring shares, forming partnerships, or opening branches.

Sermaye şirketlerinde genel kurul, şirket iradesinin oluştuğu en önemli organdır. Özellikle anonim şirketlerde pay sahiplerinin haklarını kullanabildiği, yönetim organının denetlendiği ve şirketin temel kararlarının alındığı bu toplantılar, sıkı şekil ve usul kurallarına tabidir. Bu çerçevede bazı genel kurul toplantılarında Ticaret Bakanlığı temsilcisinin ( “Bakanlık Temsilcisi”) bulunması zorunluluğu öngörülmüştür.

In capital companies, the general meeting is the most important body where the will of the company is formed. Particularly in joint-stock companies, these meetings—where shareholders exercise their rights, the management body is supervised, and the company’s fundamental decisions are made—are subject to strict procedural and formal requirements. In this context, the presence of a representative of the Ministry of Trade (hereinafter “Ministry representative”) is required at certain general meetings

Umarım en kısa sürede TTK’da bağımsız yönetim kurulu üyeliği düzenlenir

The fundamental principle in joint-stock companies and commercial companies in general is the majority rule. Shareholders holding control determine the fate of the company.

In venture capital and private equity transactions, drag-along and tag-along rights are standard deal terms. In Turkish-law transactions, however, the real issue is usually not whether these clauses can be drafted.

Girişim sermayesi ve özel sermaye (private equity) işlemlerinde drag-along (birlikte satışa zorlama) ve tag-along (birlikte satma hakkı) hükümleri, sözleşmelerin standart unsurları arasında yer alır.