Dismissal of shareholders and default in the capital debt in the joint-stock company

This study emphasizes capital contributions and non-payment (default) of capital contribution capital investment debt issues in joint-stock companies. After mentioning the general and distinctive features of the capital contribution obligation, the default and its consequences are examined. If the shareholder fails to pay the capital contribution, the company has two options: suing the shareholder for the payment of capital contribution or following the dismissal procedure. Within the scope of demanding and litigation of delayed performance, it results from a general debtor default, which includes default interest, penal clause, and collateral damage. Dismissal of a shareholder is a sanction specific to joint-stock companies that can only be applied in case of default in capital contribution, in addition to the sanctions that can be applied in the debtor's default. Dismissal of a shareholder is based upon the shares held. The board of directors follows the principle of equal treatment, and the procedure stipulated in the law for dismissal. The dismissal shall not be considered valid if the board of directors acts contrary to the equal treatment principle or the dismissal procedure stated in the law. The shareholder may request a declaratory judgment from the court to determine the absence and nullity of the dismissal decision which was made in violation of the mandatory provisions.