The concordat process aims to protect a company's financial structure and commercial activities, while also imposing certain limitations on asset management. Therefore, share transfers by company partners during the concordat process are subject to specific rules.
It should be noted that declaring a concordat does not automatically freeze a partner's shares. However, with the definitive period decision, all asset management of the company is subject to the supervision of the court and the concordat commissioner. Transactions that can affect the company's management, such as share transfers, are carefully examined.
If a share transfer is to take place:
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It must be conducted with the knowledge of the concordat commissioner,
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The transfer must not be made in bad faith (e.g., with the intent of asset hiding),
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It must not harm the court or creditors.
Otherwise, the transfer may be subject to an annulment lawsuit. Such transactions can especially fall under the scope of "revocation of disposition." At Sayın Hukuk, we provide not only legal but also strategic consultancy to company partners during the concordat process, ensuring clients are fully informed about their rights and powers.