Articles Feb 2010

Explanatory Notes for a Supreme Court judgment in which it was held "director's responsibilities" (as stipulated in Article 267, Paragraph 1 of the Commercial Code before amendment by Law No. 87 of 2005), that are subject to a derivative lawsuit by shareholders, include not only responsibilities imposed on directors by the said Code due to their position (for example, their responsibilities stipulated by each item of Article 266, Paragraph 1 of the said Code), but also responsibilities acquired by directors due to their transactions with the company (Supreme Court Judgment issued by the Third Petty Bench on March 10, 2009)

Feb 2010