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the seizure of the share certificate shall not result in the seizure
of debtor’s shares in the limited liability company. As stated
above, shares can be seized either by notifying the limited lia-
bility company via a notification of seizure, or by execution
officer, in person, attending at the company headquarters,
notifying the company of the seizure, thereby allowing the
company to record this seizure in the share ledger and min-
utes.
In light of the foregoing and legal provisions thereof;
The creditor requested a warrant of seizure regarding the
seizure of the debtor’s shares in ____ Ltd. Şti company to be
written and delivered to Adana Trade Registry on 25.07.2012.
In response, the trade registry informed the creditor that the
seizure had been recorded in the registry’s records.
Additionally, the warrant of seizure dated 28.08.2012 was sent
to the third person company together with the first notice of
seizure dated 03.08.2012.
As mentioned above, in accordance with Art. 133/2 of the TCC
numbered 6102, which was in force on the date of the men-
tioned seizure, the seizure of a debtor’s shares of a limited lia-
bility company may be made, and the court rendered a judg-
ment to approve the complaint, instead of rendering a judg-
ment regarding dismissal of the complaint as being inappro-
priate.
”
After the creditors initiated enforcement actions through seizure,
and after the finalization of the enforcement, they may request seizure
of other pecuniary rights of the shareholder other than its shares. These
pecuniary rights may be exemplified as dividends, pecuniary claims,
and his/her right to be included in the liquidation profit.
Art. 596 paragraph 1 of the TCC reads “If the capital share has
been transferred as a result of enforcement actions, all rights and oblig-
ations shall be transferred to the acquiring person without the approval
of the general assembly.” This legal provision emphasizes that the
shares will be transferred not by a legal transaction, but by operation
of law or upon judicial decision.
MISCELLANEOUS
363