ERDEM-NEWSLETTER-2018-metin

300 NEWSLETTER 2018 her commercial transactions, while assisting with his/her operations. A trustee who has knowledge regarding the field of operation of the debtor would be able to correctly determine which transactions fall under ordinary transactions of the business, and which transactions qualify as extraordinary, and could cause disruption of the interests of the creditors in the event they are conducted without the permission of the trustee. During this process, the debtor and the court also have vital re- sponsibilities. The debtor is obliged to provide the trustee with all of the information that is necessary for the fulfillment of the trustee’s assignment of supervision. The trustee may direct the debtor in this subject, provide the necessary instructions to him/her. Also, the court should determine which transactions shall be subject to the authoriza- tion of the trustee at the beginning of the concordat term, in as much detail as possible for protection of the legal security of the third parties. Incisive determination of the transactions of the debtor that shall be subject to the approval of the trustee, provides flexibility to the debtor in his/her routine activities. In the event the debtor has such flexibility, he/she shall be able to continue the business activities without interruption, and act in the momentum that commercial life requires, which may have a critical impact on realization of the man- date of improvement by the concordat. In this process, the trustee may stipulate additional measures, such as freezing the debtor’s bank accounts, and limiting the debtor’s power of disposition, in the event he/she deems it necessary for protection of the assets of the debtor. In the event the debtor violates the binding instructions of the trustee, the trustee may request dismissal of the respite from the court. The debtor may argue against such a request. Duties of Trustee in the Process of Ratification of Concordat Under Article 302(8) of the EBL, the trustee is obliged to submit any document that is related to the concordat, together with his/her reasoned report regarding whether the concordat project has been ap- proved, and whether the ratification shall be appropriate, within seven