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HTMLDirector Liability & Financially Distressed Companies in Turkey: Turkish Regime Far More Stringent than Corresponding Rules in the US and UK
John O. Faurescu, Arzum Gunalcin, Alexander G. Henlin, John D. Hughes, Jonathan Yorke; Edwards Wildman Palmer LLP;
Legal Alert/Article
February 17, 2014, previously published on February 2014
American and British directors of corporations should be mindful of the different standards of conduct, obligations, and potential personal liability when holding directorships in Turkish companies, particularly if such companies’ financial situation is deteriorating. Unlike the rules...

 

HTMLMaterial Adverse Change
Theodore H. Cominos, Rod J. Cowper, Arzum Gunalcin, Cristina Proca; Edwards Wildman Palmer LLP;
Legal Alert/Article
February 5, 2014, previously published on January 2014
The recent dramatic decline in the value of the Turkish Lira (the Turkish currency has lost about 10 percent since mid-December) as well as the substantial increase in interest rates (the Turkish Central Bank ramped up interest rates on 28 January, a measure which has already shown some positive...