Özet:

Ordinary concordat is a legal opportunity for reorganizing the debts of any debtor, who cannot pay his debts or who is in danger of failing to pay at a maturity date, with a project via a certain maturity date or discount. If the concordat is likely to be successful at the end of the provisional period, the debtor will be given one-year definitive period and it will be announced. Then, according to the article 299 of Bankruptcy and Enforcement Code, the creditors will be asked to notify their credits within fifteen days of the announcement to be made by the concordat commissioner. Creditors declare their claims by means of announcement; as well as a copy of the announcement is sent to the creditors whose address is known for their information by mail. Creditors who do not notify their receivables within the time limit will not be able to participate in the negotiations of the concordat project unless they are registered in the debtor's balance sheet or in the list of creditors specified in the project. In other words, the creditors must report their receivables in order to vote in the creditors meeting where the concordat project is voted and be included in the quorum. The announcement making and creditors’ notifying their receivables play a significant role in shaping the concordat project because providing creditors’ support is obligatory to ensure quorum in the creditors meeting, to determine the debtors’ passive coverage which he is liable for the assets, and to confirm the concordat project. At this point, depending on the nature of the receivables of the creditors, the provisions and results of notifying or not notifying their receivables in a certain period may be different.

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