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the court will initially request the managing partner to produce a list of
expenses. If the managing partner does not produce this list, he will be
deemed to have avoided this obligation.
In the event of a dispute amongst the partners of the accounting
list, this dispute will be resolved by evidence collected from the part-
ners. The income and expenses, as well as the assets and liabilities of
the partnership, will be determined as per the final accounting list. The
compatibility of the documents used in this determination, as well as
the aim of the partnership, will be assessed. Consequently, the asset
value of the partnership will be determined. The liabilities will be
deducted from the assets. The advances and expenses borne by the
partners will be refunded, and the partners’ contributions will be
returned. Following the completion of these stages, the profit and the
loss of the partnership will be shared amongst the partners, and liqui-
dation will be finalized. In its same decision, the Court of Cassation
stated that the non-fulfillment of a partner’s obligation of contribution
will not inhibit the liquidation, and will only constitute a point to con-
sider in the course of the liquidation procedure.
In the Court of Cassation decision numbered 2014/10535 E.,
2014/15088 K. and dated 18.11.2014, an ordinary partnership estab-
lished with the aim of collection and the trade of textiles residuals is in
question. The claimant requests his share in the partnership income,
and the immovable property acquired by partnership assets, but to be
registered in the name of the respondent. The Court of Cassation spec-
ified that the partnership incomes cannot be shared prior to the liqui-
dation, and that there is co-ownership of the partnership incomes; for
this reason primarily, the liquidation procedure should be carried out.
In its decision, the Court of Cassation clarified the three stages of
liquidation that were referred to in its previous decision. Accordingly,
in the first stage, all assets of the partnership are to be identified, the
partnership account is to be requested from the managing partner, the
parties are to be notified of the balance of the assets determined by the
liquidator, and the objections thereof are to be assessed in accordance
with the evidence collected from the partners. In the second stage, sell-
out and cashing operations should be carried out, via application by
analogy of the “official liquidation” provisions set forth under the
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NEWSLETTER 2015