DIRECT AND REFLECTION DAMAGES ON THE LIABILITY OF THE BOARD MEMBERS IN JOINT STOCK COMPANY (PARTICULARLY IN TERMS OF PROCEDURE AND ENFORCEMENT LAW)

Autor: Ali Fuat ÇİÇEKLİ
Rok vydání: 2022
Předmět:
Zdroj: Ankara Sosyal Bilimler Üniversitesi Hukuk Fakültesi Dergisi.
ISSN: 2667-5668
Popis: The legislator has given the shareholders and creditors the right to demand compensation for the loss of the company in various provisions. In fact, the distinction between direct and reflection damage emerges at this point. Because board members can directly damage to company. It can also damage shareholders and creditors by means of reflection. In this context, the legislator allows the loss of the company to be compensated by granting the shareholders and creditors of right to take legal action, not having legislating an explicit provision regarding the compensation of the reflected damage. Because the shareholders and creditors pursue a right that does not belong to them materially. Moreover, in case of bankruptcy, although right to take legal action a lawsuit passes to the bankruptcy administration, the legislator has given the creditor and the shareholder the right to demand the compensation of the company's losses under certain conditions. Finally, the study examines the origin of the distinction between direct and reflection damages under the liability of the board members and deals with the consequences of this distinction in terms of both material law and procedural and enforcement law.
Databáze: OpenAIRE