NEWSLETTER-2019-metin

31 COMMERCIAL LAW criteria under the “Communiqué on Common Principles Regarding Significant Transactions and the Retirement Right (II-23.1),” issued by the Capital Markets Board for significant transactions in open joint stock companies, can be applied 3 . It may be also argued that the deter- mination of the significant amount would be at the judge’s discretion, pursuant to Article 4 of the Turkish Civil Code 4 . Company Asset While the Article 538(2) of the TCC, regarding the dissolution of companies, states that “general assembly resolution for the wholesale of a significant amount of activities” is required, Article 408(2)(f) of the TCC mentions “company assets.” During the fTCC, it is particu- larly disputed how to interpret the wording of “active” under Article 443(2). The view for a narrow interpretation 5 included only movable, immovable, stable assets, and the rights and claims that cannot be im- mediately collected, while the view for a broader interpretation 6 was of the opinion that active corresponds the whole assets of a company either passive or active. This controversy appears to continue under the TCC 7 . Wholesale The certain meaning of wholesale that is used by the legislator is disputed. Particularly, it can be disputed whether the meaning is selling as a whole with a discounted price as opposed to selling the company file/262671 (Access date: October 2019). 3 Biçer, Levent / Hamamcıoğlu, Esra: “ Anonim Ortaklıklarda Genel Kurulun Devredilemez Yetkileri Kapsamında Önemli Miktarda Şirket Varlığının Toptan Satışı ve Uygulama Alanı (TTK m. 408/2-f) ”, Kadir Has Üniversitesi Hukuk Fakültesi Dergisi, V. 1, No. 1, 2013, p. 44. 4 Ayoğlu, Tolga : “ Önemli Miktarda Şirket Varlığının Satışında Genel Kurul Kararının Hukuki Niteliği ”, Kadir Has Üniversitesi Hukuk Fakültesi Dergisi, V. 1, No. 1, 2013, p. 93-104. 5 Domaniç, Hayri : Anonim Şirketler Hukuku ve Uygulaması, TTK Şerhi II, Is- tanbul, 1988, p. 1480; Tekinalp / Poroy / Çamoğlu : Ortaklıklar ve Kooperatif Hukuku, Istanbul, 1997 N. 1595. 6 Karahan, Sami : Anonim Şirketlerde Tasfiye, Konya, 1998, p. 200; Eriş, Gönen : Ticari İşletme ve Şirketler 2, Ankara, 2004, p. 2804. 7 Biçer / Hamamcıoğlu , p. 40.