FAQ

Articles 573 et seq. of the Commercial Code govern LLCs and arts. 329 et seq. govern joint-stock companies. An LLC may have up to 50 shareholders with a minimum capital of TRY 50,000 and shareholders are liable for public debts (tax, social security) pro rata. A joint-stock company has no shareholder cap and a minimum capital of TRY 250,000; shareholders are generally not liable for public debts, but board members remain liable. The outcome depends on the specific evidence and the court's assessment; consult an attorney for your individual situation.

Under Law no. 7155 and art. 5/A of the Commercial Code, mediation is a condition of suit for monetary debt and damages claims and for certain corporate-law disputes. Suits filed without the mediator's final report are dismissed on procedural grounds. The process generally runs for six weeks, extendable by two more weeks. The outcome depends on the specific evidence and the court's assessment; consult an attorney for your individual situation.