Termination of joint-stock companies and legal consequences of termination

Joint stock companies are economic and social organizations that are founded by the shareholders by collecting the small and scattered capital with the purpose of making and sharing profit, and that are of high significance for national economies. It is of equal importance for these companies to operate and be terminated in a safe and sound manner for the account of the shareholders and public. The company's commercial goal of "making and sharing the profit" is expired, and it goes into liquidation in case of termination, either rescission or dissolution. The liquidated company is deregistered and disincorporated. Our thesis, which focuses on termination of the joint stock companies and their termination-oriented legal consequences, is set out to provide insights on possible consequences of the termination of these companies, liquidation, which is a natural outcome of the termination, and the impacts of liquidation on the companies. Accordingly, particular acts of the Turkish Commercial Law No. 6102 (Act No. 529-548), which are related to the process of termination and liquidation of the companies, were addressed, and the existing cases were identified by examining the justifications of the regularities in concern. In line with the afore-mentioned goal of our thesis, information about the factors that trigger termination of the joint stock companies, how a liquidated company as a result of termination should operate in the process of liquidation, how it is affected by the liquidation process, the cases to be encountered, executors of the liquidation process, and the liquidation process-oriented procedures to perform is offered. Keywords: Joint Stock Company, Termination, Liquidation, Liquidator, Liquidation Procedures