Investigating the invalidity of companies and its legal effects on its beneficiaries

The annulment of joint stock companies is the result of various causes and actions that cause the legal life of the company being created to end and the previous status to be restored, ie before the formation of the company. This concept is present in all works and conditions resulting from the current invalidity. In this way, with the realization of the invalidity of the company, the actions taken are eliminated and the situation must be restored before taking these actions. Unlike termination, which has an effect only on the future, in void, actions taken in the past must also be justified and the responsibilities incurred or the damages incurred must be compensated. In the annulment of joint stock companies, the main officials are the founders of the company and its managers. In this way, after the liquidation of the company is realized, the persons whose actions were invalidated as a result of their actions may be held responsible for their actions and also be liable to their shareholders and third parties for their actions. During the liquidation of joint stock companies, the rights of shareholders and third parties are among the priorities of the legislature. In this research, an attempt has been made to pay special attention to the conditions of formation of joint stock companies, which are justified by the philosophy of revocation, and also to the effects of this invalidity.