Examining concordatum process in terms of financial structure: An implementation study

Concordatum (Composition of Debts) is a legal agreement to allow businesses that could not pay their debts in due time or that have the risk of being unable to pay their debts in due time to restructure their debts using a new projection, where they can pay them according to the new payment schedule. Concordatum, which is a long and complex process, involves a commissioner who controls the debtor's activities and evaluates the possibility of implementing the composition project. This commissioner must submit information to the court for a composition decision to be approved, and they play a key role in protecting creditors. Hence, this thesis study aimed to reveal the transactions and scientific evaluations that should be undertaken by the commissioner during and after a composition process, which involves multiple financial transactions and assessments. This way, the current study could map out a route for practitioners and academics. In line with this goal, this study was designed as a case analysis, a qualitative research method. The case chosen here was a preliminary composition project and financial statements during composition belonging to a company that operates in livestock breeding, meat marketing, and transportation. The implementation part of this study explains the transactions, evaluations, and reports that the commissioner should undertake, along with their resources, from the granting of the temporary grace period to the approval of the concordatum.