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ARTICLE · 18 MARCH 2021

Exiting The Voluntary Liquidation Process

Erdem Legal
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The Turkish Commercial Code numbered 6102 allows companies to exit liquidation processes which they have entered voluntarily through a general assembly resolution or as a result of the expiry of term stipulated in the articles of association.

TurkeyCorporate/Commercial Law
Alper Erdem
Alper Erdem
H. Şafak Varol
H. Şafak Varol

The Turkish Commercial Code numbered 6102 ("TCC") allows companies to exit liquidation processes which they have entered voluntarily through a general assembly resolution or as a result of the expiry of term stipulated in the articles of association. Exiting voluntary liquidation provides shareholders with the opportunity to reassess their decision regarding the initiation of voluntary liquidation procedures and ensure the continuity of the company.

How to Take the Resolution for Revocation of Voluntary Liquidation?

Company shareholders' are authorized to resolve whether the company enters, finalizes or exits a liquidation process through a shareholders resolution. Accordingly, the shareholders may resolve to exit the voluntary liquidation process through a general assembly decision.

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