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Annulment of General Assembly Resolutions in Joint Stock Companies

Annulment of General Assembly Resolutions in Joint Stock Companies

    The general assembly in joint stock companies is one of the most important corporate bodies through which shareholders express their will regarding the management of the company and fundamental corporate decisions. Resolutions adopted by the general assembly may have significant consequences for the company’s activities, board of directors, profit distribution, capital transactions, and shareholders’ rights.   However, not every general assembly resolution is necessarily lawful. General assembly resolutions of a joint stock company that are adopted in violation of the law, the company’s articles of association, or the principle of good faith may be annulled by a court if the conditions prescribed by law are met.   Therefore, questions such as “How can a general assembly resolution of a joint stock company be annulled?”, “How long is the limitation period for filing an action against a general assembly resolution?”, “Who can request the annulment of a general assembly resolution?” and “Which general assembly resolutions can be annulled?” are of particular importance, especially for shareholders, the board of directors, and members of the board of directors.   In this art..

Conditions, Time Limits, and Methods of Proof in an Action for Recovery of Property (Istihkak Claim)

Conditions, Time Limits, and Methods of Proof in an Action for Recovery of Property (Istihkak Claim)

An action for recovery of property (istihkak claim) is a lawsuit filed when it is alleged that an asset seized during enforcement proceedings does not belong to the debtor but to a third party. In other words, a third party who claims ownership or another real right over the seized property files an action for recovery of property in order to protect that right.     ..