- The court has ruled that the judicial costs will be paid personally by the trustees of Koza Gold. That’s about 250,000 GBP (1.2 million TL). They will personally pay this amount to Koza Ltd in England. This amount will increase as the case advances
Just after this ruling, a decreehaving force of law was issued on the 23rd January 2017. It read:
“In this case and in the investigations opened, the judicial costs and the fees for authentication to the detriment of the management cannot be ruled by the court, those ruled cannot be collected.” - Ipek Investment sent a warning to the TMSF, the trustees of Ipek Holding, Koza Gold and ATP,reminding them of the protocol dated the 7th June 2016.
After receipt of this warning by the trustees, the decree having force of law read:
The companies had trustees appointed to them from the date on whichthe investigation started, and the case opened against them cannot be transferred before the date on which the case and the investigation is finished and that isthe final verdict. The public prosecutor or the court notifies the Commercial Registry Offices directly of the prohibition of transfer and it is registered. - According to the ECHR, the constitution, Turkish Commercial Law, to be able to open a case against the board, the decision must be made by the general assembly.
After the Turkish Courts had been reminded of this law, the last decree having force of law read:
“for the personal responsibility cases that were or will be opened by the trustees against the board members, the managers, and the other responsible authorities, a decision by the general assembly or the authorized board of the relevant establishment is not necessary.” - The trustees had signed the decisionthat the disputes regarding Koza Ltd were going to be decided in the English courts and that the cases in Turkey would not be continued. According to this decision, they have to waiver the cases they opened in Turkey.
- I am not a man of the law but aren’t the latest decrees having force of law evidence that all the activities of the KozaIpek group are in line with the current regulations and that the activities of the trustee management are unlawful, and that they were only legitimized afterthe decreehaving force of lawwas issued?