Inheritance crisis at Sarar Group: Controversial share transfer in seven companies

In the Sarar Group, a long-established brand of the Turkish textile industry, Ali Emre Sarar, son of late founding partner Celaleddin Sarar, initiated bankruptcy proceedings against his uncle Sebahattin Sarar and his cousins Ece Özalp and Sara Sarar.

The disagreement began with board of directors meetings held on November 30, 2022, at the headquarters in the Eskişehir Organized Industrial Zone. Cemalettin Sarar transferred his shares in seven separate companies to his nieces Ece Özalp and Sara Sarar. Having a broken right hand, Cemalettin Sarar approved these transactions with his left thumbprint instead of a signature. Ali Emre Sarar entered a dissenting note to the decisions, claiming there was no document proving that the nominal values of the shares had been paid.

Following the passing of Celaleddin Sarar on February 8, 2023, tensions escalated over the inheritance process and company management. The Eskişehir 1st Civil Court of Peace issued a restriction decision regarding Cemalettin Sarar and ruled for the appointment of a guardian. Ali Emre Sarar initiated legal proceedings, claiming that he could not receive a share from company revenues and that receivables were embezzled.

In a statement made by the Sarar Group of Companies, it was emphasized that the allegations reflected in the press have no relation to the financial structure of the companies. The statement expressed that the events consist solely of personal disputes among family members.