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.
Turkey, United Kingdom, USA, Company & Commercial, Insolvency & Restructuring, Locke Lord LLP, Bankruptcy, Shareholder, Business judgement rule
A Ministry of Justice Report released in March 2012 has confirmed that the implementation of the Third Parties (Rights against Insurers) Act 2010 (the "Act") is to be delayed until 2013.