8- Concordatum Project: Voting, Acceptance and Approval

THE CREDITORS MEETING AND THE REQUIREMENTS FOR ACCEPTANCE AND APPROVAL OF THE CONCORDATUM PROJECT:

. The Commissioner chairs the meeting of the creditors about concordatum project. She / he gives a report on the situation of the debtor.

. The Borrower is obliged to be present at the meeting to make the necessary statements.

. Only creditors affected by the concerto project can vote.
. Receivables of the privileged creditors written in the first period of Article 206 of the Bankruptcy Law shall not be taken into account in the calculation of the majority of the creditors, the spouse, his / her mother and father and the creditors and the creditors, even if the bond of the debtor has disappeared.
. Creditors provided by the pledge shall be taken into account for the part of the unsecured part as a result of the appraisal approved in accordance with Article 298.

. The court decides whether and to what extent the creditors subject to a maturity or non-determinable due to a contingent or retarded condition will be considered.
. The Concordatum project will be negotiated and voted separately by pledged creditors and other creditors.
.The approved project, signed by a majority exceeding two-thirds of the recorded pledged receivables, is considered accepted by pledged creditors.
. The project will also be negotiated by non-pledged creditors.
. Two different majority options are envisaged.

In the meetings to be held, the creditor classes accept one project and the other does not accept;

If the Concordatum Project is accepted and signed by the;

. Half of the registered creditors and receivables, or
. One-fourth of the creditors registered and two-thirds of the receivables,

The project is accepted as approved.

.The report prepared as a result of the negotiation of the concordatum project is signed immediately including acceptance and rejection votes.
.In the seven days following the end of the meeting, the complaints will be accepted.
,The Concordatum Commissioner shall submit to the court, at the latest seven days after the end of the accession period, all documents relating to concordat, whether the concordatum project has been accepted and the plaintiff or not.

. The approved concordat is compulsory for all claims born before the decision of the respite or until the approval of the concordant without the approval of the commissioner.
.Receivables in the amount of pledged creditors meeting the value of the pledges and the State Receivables counted in the first paragraph of Article 206 of the Article 206 are exempted.
. The debts concluded by the commissioner with the approval of the commissioner shall be deemed to be the table debt in the concordat or in a subsequent bankruptcy by the end of the assets.

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