Liability in the group of companies on account of subsidiaries' debts

Turkish Commercial Code (Law No. 6102), which entered into force in 2012, and introduced a liability regime specific to the group of companies. However, this liability regime does not provide sufficient and effective protection for the creditors of the subsidiary companies. For this reason, it is an important issue to be examined whether the creditors may seek a solution by resorting to complementary and alternative remedies such as general provisions and lifting the corporate veil. The legal framework in force should not remain silent on the abuse of the group of companies to the detriment of individuals, which are recognised for the pursuit of legitimate commercial purposes and offered to the service of entrepreneurs. In view of the doctrine and judicial decisions, the possible remedies that could be resorted to by the creditors are studied under this thesis.