Being a partner in a limited company operating in Antalya offers both opportunities and challenges. In the event that one of the partners decides to leave the company, this process must be managed carefully and carried out in accordance with all relevant legal procedures. This article will cover in detail how to remove a partner from a limited company in Antalya, the points to be considered and possible scenarios. As Atty. Arb. Billur Güler Aslım Law Firm, we would be happy to provide you with professional legal support on this matter.
Reasons for Removing Partners from a Limited Company
There may be many reasons why a partner may decide to leave a limited company. These may include disagreements between partners, different views on the future of the company, personal reasons, retirement or new job opportunities. The impact of the partner's desire to leave on the continuity of the company and the consent of the other partners play an important role in shaping the process.
Common Extraction Methods
In limited companies, the process of removing partners is carried out in accordance with the provisions set forth in the company agreement and the relevant articles of the Turkish Commercial Code (TTK). There are basically two methods:
1. Removing a Partner by Agreement:
This method is used when mutual agreement is reached between all partners. Partners agree on the transfer of the share of the partner to be withdrawn, payment of compensation and other related issues. The agreement is formalized with a contract drawn up in the presence of a notary. This method provides a quick and problem-free separation. However, it is not possible to apply in case of disagreement between partners.
2. Joint Removal by Court Decision:
If an agreement cannot be reached between the partners, the partner or other partners who want to withdraw may apply to the court and request the removal of a partner. The court will make a fair decision in accordance with the provisions of the TCC and the company agreement. This process may be longer and more costly than a consensual removal. The court's decision may vary depending on the continuity of the company, the rights of the other partners and the economic situation of the company.
Matters to be Considered in the Joint Extraction Process
In the process of removing partners from a limited company, it is very important to pay attention to the following points:
Review of the Company's Articles of Association:
The company agreement contains important provisions regarding the squeeze-out process. The agreement should specify in detail the conditions for the squeeze-out, the method of calculating compensation, and the share transfer procedure. If the agreement contains incomplete or ambiguous provisions, the provisions of the TCC shall apply.
Valuation:
Accurately determining the value of the exiting partner’s share is critical to ensuring the process is conducted fairly and transparently. The valuation must be performed by an independent expert. The valuation report is also an important piece of evidence in court proceedings.
Compensation:
The resigning partner may be required to be paid compensation in return for his share. If the amount of compensation is specified in the company agreement, it is calculated accordingly, if not specified, it is calculated according to the company's net assets and profitability.
Transfer of Shares:
The shares of the exiting partner may be transferred to other partners or third parties within the company. Share transfer transactions must be carried out in accordance with the relevant legal regulations.
Legal Support in Limited Company Partner Removal Procedures in Antalya
The process of removing a partner in a limited company is a complex process that requires legal procedures. During this process, getting support from an experienced legal expert is of great importance in terms of protecting your rights and preventing potential problems. As Atty. Arb. Billur Güler Aslım Law Firm, we provide you with professional legal support in the process of removing a partner in a limited company in Antalya. Our expert team will guide you at every stage of the process and help you find the most suitable solution. You can get detailed information by contacting us.
The process of removing partners in limited companies is a delicate matter that needs to be carefully planned and executed. The right legal advice ensures that the process is completed smoothly and fairly. Therefore, getting support from an expert law firm throughout the process is always the best approach.