Existing Facilitations for Capital Loss and Over-Indebtedness Calculations are Extended until 2026
Article 376 of the Turkish Commercial Code numbered 6102 (the “TCC”) regulates the measures to be taken and the precautions to be implemented by the board of directors of the company, and the procedures to be followed in cases where the company suffers capital loss or becomes over-indebted, in order to ensure the protection of the financial structure of the company and to secure the rights of creditors of the company.
Authors:
Görkem Bilgin, Partner
Email: gorkem.bilgin@gun.av.tr
Uğur Erkırlı, Senior Associate
Email: ugur.erkirli@gun.av.tr