Dear Konuk,

Pursuant to the Article 43 of the Turkish Code Of Enforcement And Bankruptcy Act (The Act) , a natural or legal person should be classified as a merchant (businessman) and/or be subject to the provisions applied for the businessmen, or specifically subjected to the bankruptcy as regards the Commercial Act in order to be legally liable for bankruptcy proceedings.Therefore, a partner of the Limited Company is not one of the abovementioned ones and cannot be subject to the bankruptcy since being a sole partner.The partner may only be eligible for the bakruptcy execution provided that the applicant for bankruptcy (claimant) should prove that the partner is a merchant due to his individual business apart from the partnership.

Also, a claimant may apply for the termination of the company due to the individual debts of one of the partners by seizing his share.You may prevent the dissolution by paying his debts or disenfranchising him (for the companies having more than two partners).