In the decision of the Court of Appeals dated 8 March 2010 (File No:2009/9310) the argument was whether or not it is possible to consider the dissolution of a company within the context of Article 337/a of the Execution and Bankruptcy Code (Law No.2004) which states that if a merchant quits his or her trade activities, he or she must submit a declaration of wealth to the Trade Registry showing all of his assets and liabilities and the names and addresses of his creditors within 15 days. In case the merchant does not do so or provides inaccurate information, pursuant to the said article, he may be imprisoned for three months to one year upon the filing of a complaint by the creditor.

In its judgement the Court of Appeals stated that the Turkish Commercial Code did have provisions regarding dissolution procedures for the commercial companies and partnerships, however, it did not contain any provision relating to ceasing all trade activities. Therefore, it was decided that the dissolution of a company does not mean ceasing all trade activities but rather that the partnership relationship and its legal entity have been terminated. The dissolution of a commercial entity shall not be considered as ceasing all trade activities and it would not be subject to the procedure stated in Article 337/a of the Execution and Bankruptcy Code.