My husband and i were both shareholders in a Turkish Ltd company. I am British but also have Turkish Nationality.
In the start of this year a loan was taken out against company assets via a bank(a construction project).The money was taken out against the flats in that project.
Some weeks later our already strained business relationship failed and we agreed to sell our shares to our business partner.( he now owns 100% of the Ltd company)
Several months have now passed and he has informed us that he is now bankrupt and that as we were shareholders when the loan was taken out that our personal assets are now at risk. We have a house and no other assets(which is already currently on the market as we are moving cities.
The house is not mortgaged. It is in my husbands name.
The only link that we have to the company is that we are listed as employees so that we can still pay ssk until we more. ( should we stop this ? )
Is our home at risk from being taken from the bank ?
Is there anything we can do ?
Can anyone help ? & and let me know where we stand legally.We are currently searching for local lawyers.
In English Law limited shareholders we would only be responsible for public debts.
In this case we signed a KREDI GENEL SOZLESMESI in the name of our company.
The second document was a kefalet hukumu.
again in the name of the company.
There are company assets that can be siezed pror to our property.
Also we are no longer shareholders.
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