Effects of the temporary respite decision in concordatum

Temporary respite in concordatum is a new concept in terms of our law. With the amendment of Law No. 7101, the concordatum period is divided into two as temporary and definitive respite. The debtor is given a temporary respite first, and then a definitive respite if there are conditions. The temporary respite serves the purpose of examining whether the concordatum will be succesful and whether a definitive respite is necessary. In this context, the court appoints a temporary concordatum commissioner to closely examine whether it is possible to succeed in the concordatum with a temporary respite decision. With the regulation of the temporary respite concept in the Execution and Bankruptcy Law, it is aimed to provide legal protestion on the debtor quickly. If the court determines that the documents specified in the Execution and Bankruptcy Law have been submitted in full by the debtor, it decides to grant a temporary respite. In this context, the court does not enter into the merits of the concordatum request, only a formal examination is considered sufficient. The main examination on the merits is carried out at the definitive respite instance. In addition, as a rule, there is no need to hold a hearing in order to decide on the temporary respite, the decision on the definitive respite is made with a hearing. The temporary respite has the same consequences as the definitive respite. The effects of the definitive respite on the rights of the creditors, the effects of the debtor's power of disposition on the assets and contracts, are also valid in terms of temporary respite. Thus, the results that may arise with the definitive respite decision are carried to an earlier instance.