Article 174 of Companies Law

The company's assets may not be attached in satisfaction of debts owed by a shareholder; rather, Index of the Law 1496 Home Page Companies Law Law No. 1 of 2016 Promulgating the Companies Law the debtor's shares and the dividends on those shares may be attached. The attachment of the share shall be noted in the shareholders' register, and the shares shall be sold even if the attaching creditor does not submit the original receipt for their deposit. The clearing agent shall make the necessary amendments to the shareholders' register in accordance with the outcome of the sale procedures. Shares may be pledged even if their value has not been paid in full, and the pledge shall be entered in the shareholders' register in the presence of the pledgor and the pledgee or their representatives. The debtor may assign to the pledgee creditor his right to attend and vote at the company's general assemblies. All resolutions adopted by the general assembly shall apply to the attaching creditor and the pledgee in the same manner as they apply to the shareholder whose shares have been attached or to the pledgor.