TRNC's statutory bases for extending liability beyond ordinary limited liability are fraudulent trading, where a Court can declare a knowing participant personally liable without limit, and a misfeasance/breach-of-trust summary remedy allowing the Court to order a director or officer to repay or compensate the company for misapplied funds or a breach of duty — not a general doctrinal 'veil-piercing' test.
Claim record · last verified 22 September 2026
How to read this claim
- Jurisdiction
- Turkish Cypriot administration (TRNC)
- Verification
- Primary source verified. We read the primary text ourselves on 22 September 2026.
- Legal review
- Not yet reviewed by a named legal reviewer.
Version history
- — Published from primary-source research. (version 1, First published)
Sources for this claim
Numbered in order of first use. Each entry names the kind of source it is and the day we read it.
- [1]Companies Law, Cap. 113 (as amended by Laws 28/74, 7/77, 30/83, 28/87, 65/89, 56/91, 42/97, 29/2003 and 35/2007)
Official Receiver and Registrar of Companies, TRNC · Legislation and gazettes · original in Turkish · accessed 20 September 2026 · source record
Cite this record
https://northcyprusreference.com/en/claims/fraudulent-trading-and-misfeasance-liability-extension
Identifier fraudulent-trading-and-misfeasance-liability-extension · Open data · challenge