ERDEM-NEWSLETTER-2018-metin

295 ENFORCEMENT AND BANKRUPTCY LAW Qualifications and Duties of Concordat Trustee * Att. Hande Pat Introduction The qualifications and duties of concordat trustee are regulated in the amendments to Enforcement and Bankruptcy Law numbered 2004 (“EBL”), together with Law Regarding Amendment to the Enforce- ment and Bankruptcy Law and Certain Other Laws numbered 7101 (“Law Numbered 7101”). In order to efficiently implement the regulations governing the concordat, it is vital to understand the regulations regarding the quali- fications and duties of the concordat trustee, as the concordat trustee is one of the most effective agencies in attaining success at the end of the concordat term. The trustee undertakes important duties, such as taking measures to protect the assets of the debtor, informing the court regarding the progress of the process, and directing the court in rendering the decisions of extension or removal of the delay during the entire term, from the start of the concordat term, until the concordat project is submitted to the court. Qualifications of Concordat Trustee The concordat trustee is qualified as a public official who per- forms the duties stipulated in the law 1 . The qualifications of the concordat trustee are regulated in Article 4 of the Regulation on the Qualifications of the Concordat Trustee and Compulsory Formation of the Board of Creditors (“Regulation”). Accordingly, the concordat is required: * Article of November 2018 1 Altay, Sümer; Eskiocak, Ali :7101 Sayılı Kanun’la Yapılan Düzenlemelerin Işığında Konkordato ve Yeniden Yapılanma Hukuku, 4th ed., Istanbul 2018, p.142.