2016.ANA METIN ingilizce.01

Liquidation of Ordinary Partnerships in Light of Court of

Cassation Decisions

Att. Suleyman Sevinc

Introduction

Ordinary partnerships, as regulated by Article 620 et seq. of the

Turkish Code of Obligations numbered 6098 (“TCO”), are a type of a

partnership in which two or more persons undertake to combine their

endeavors and assets in an effort to achieve a certain purpose.

Partnerships that are not vested with a legal personality that do not

meet the distinguishing criteria of partnerships, and which are regulat-

ed under specific legal provisions, are deemed to be ordinary partner-

ships. Unless otherwise contractually agreed to, the contributions of

the partners of ordinary partnerships should be equal and in the char-

acter and significance as required by the goal of such partnership

These are two consequences of terminating ordinary partnerships, and

are the finality of managers’ duties and liquidation of the ordinary part-

nership. The liquidation procedure of ordinary partnerships is regulat-

ed under the TCO. Through its recent precedents, the Court of

Cassation introduces issues to take into consideration by the courts in

the liquidation procedure of ordinary partnerships in addition to the

provisions of the TCO. This article analyzes the liquidation procedure

of ordinary partnerships.

Liquidation of Ordinary Partnerships within the Framework

of the TCO

Pursuant to Art. 639 of the TCO, an ordinary partnership may be

terminated due to (i) the achievement of the goals stipulated in the part-

LAW OF OBLIGATIONS

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Article of May 2015

Please see;

for the Newsletter article

dated April 2014.