On 15 September 2018, Communiqué on Procedures and Principles on Implementation of Article 376 of the Turkish Commercial Code no. 6102 ("TCC") (“Communiqué”) was published in the Official Gazette and entered into force. The Communiqué provides procedures and principles to be followed in case of capital loss and insolvency situations, and sets out details of remedial actions to be taken pursuant to Article 376 of the TCC.