Uygulamada, yar\u0131 yar\u0131ya hisse da\u011f\u0131l\u0131m\u0131, hissedar kararlar\u0131n\u0131n bir \u00e7\u0131kmaz durum nedeniyle kar\u015f\u0131l\u0131kl\u0131 olarak engellenmesi sorununa s\u0131kl\u0131kla yol a\u00e7ar.<\/p>\n
\u015eirket ana s\u00f6zle\u015fmesinde yer alan ve \u201cRus ruleti maddesi\u201d olarak adland\u0131r\u0131lan h\u00fck\u00fcm, her iki hissedara da kendi hisselerinin tamam\u0131n\u0131 di\u011fer hissedara belirli bir fiyattan sat\u0131n al\u0131nmas\u0131 i\u00e7in teklif etme hakk\u0131 vererek bu t\u00fcr hissedar \u00e7\u0131kmazlar\u0131n\u0131 \u00e7\u00f6zmektedir. Teklifin al\u0131c\u0131s\u0131 teklifi kabul etmezse veya bunu belirlenen s\u00fcre i\u00e7inde yapmazsa, al\u0131c\u0131 da ayn\u0131 sat\u0131n alma fiyat\u0131 \u00fczerinden kendi hisselerinin tamam\u0131n\u0131 gecikmeksizin teklif sahibine satmak ve devretmekle y\u00fck\u00fcml\u00fcd\u00fcr.<\/p>\n
N\u00fcrnberg Y\u00fcksek B\u00f6lge Mahkemesi, 20 Aral\u0131k 2013 tarihli \u2013 12 U 49\/13 say\u0131l\u0131 son karar\u0131nda, hukuk literat\u00fcr\u00fcnde \u201cRus ruleti maddesi\u201d olarak an\u0131lan bu t\u00fcr bir h\u00fckm\u00fcn ge\u00e7erli oldu\u011funa h\u00fckmetmi\u015ftir. Dava, hisseleri iki hissedar taraf\u0131ndan e\u015fit oranda elinde bulundurulan bir anonim \u015firketle ilgiliydi. Bir GmbH\u2019deki hissedarlar\u0131n menfaatleri benzer oldu\u011fundan, bu i\u00e7tihat bir GmbH\u2019nin iki hissedar\u0131 aras\u0131ndaki hukuki ili\u015fkiye de do\u011frudan uygulanabilir olmal\u0131d\u0131r.<\/p>\n
Genel olarak mevcut olan suistimal riski, tek ba\u015f\u0131na bu h\u00fckm\u00fcn kamu d\u00fczenine ayk\u0131r\u0131 oldu\u011fu sonucuna var\u0131lmas\u0131n\u0131 hakl\u0131 k\u0131lmaz. E\u011fer bir s\u00f6zle\u015fme taraf\u0131 bu riske maruz kalmak istemiyorsa, Rus ruleti mekanizmas\u0131n\u0131 kabul etmemelidir. Her hal\u00fckarda, e\u015fit hisseye sahip iki hissedar\u0131n neden oldu\u011fu \u015firketin kendi kendini bloke etme durumunu \u00e7\u00f6zmek amac\u0131yla b\u00f6yle bir maddenin kullan\u0131lmas\u0131 nesnel olarak hakl\u0131d\u0131r.<\/p>\n
Mahkeme ayr\u0131ca, yarg\u0131sal m\u00fcdahalenin ancak iki hissedardan birinin ba\u015f\u0131ndan itibaren bir sat\u0131n alma teklifini finanse edememesi ve bu nedenle her ne pahas\u0131na olursa olsun dezavantajl\u0131 tamamlama mekanizmas\u0131ndan ka\u00e7\u0131nmak zorunda kalmas\u0131 durumunda \u2014 ba\u015fka bir deyi\u015fle, s\u00f6z konusu hissedar\u0131n belirli bir bask\u0131 durumuna maruz kalmas\u0131 halinde \u2014 hakl\u0131 g\u00f6r\u00fclebilece\u011fini belirtmi\u015ftir.
\nBu temyiz karar\u0131, hukuk\u00e7ulara hissedarlar aras\u0131nda s\u0131k\u00e7a ortaya \u00e7\u0131kan \u00e7\u0131kmaz durumlar\u0131n\u0131 \u00e7\u00f6zmek i\u00e7in \u00f6nemli bir s\u00f6zle\u015fme haz\u0131rlama arac\u0131 sunmaktad\u0131r. Ayn\u0131 zamanda, yo\u011fun anla\u015fmazl\u0131klar\u0131n genellikle uzun s\u00fcren ve zarar verici sonu\u00e7lar\u0131n\u0131 \u00f6nlemeye yard\u0131mc\u0131 olmaktad\u0131r; zira bu t\u00fcr anla\u015fmazl\u0131klar, uygulamada \u2014 \u00f6zellikle aile \u015firketlerinde \u2014 s\u0131kl\u0131kla uzun soluklu hissedar \u00e7at\u0131\u015fmalar\u0131na yol a\u00e7maktad\u0131r.<\/p>\n
\u015eirket ana s\u00f6zle\u015fmelerinin s\u00fcrd\u00fcr\u00fclebilir bir \u015fekilde haz\u0131rlanmas\u0131 ve hissedarlar aras\u0131ndaki ihtilaflar konusunda size dan\u0131\u015fmanl\u0131k hizmetinden memnuniyet duyar\u0131z.<\/p>","protected":false},"excerpt":{"rendered":"
In practice, fifty-fifty shareholdings often give rise to the problem that shareholder decisions are mutually blocked by a deadlock situation. A so-called \u201cRussian roulette clause\u201d in the articles of association resolves such shareholder deadlocks by giving either shareholder the right to offer all of their shares to the other shareholder for purchase at a specified […]<\/p>\n","protected":false},"author":29,"featured_media":55752,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139],"tags":[],"class_list":["post-55750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t