The financial sustainability of individuals who work in the general economic life (real or legal) is endangered by the financial difficulties, sometimes caused by them and sometimes due to the undesired formation of the general economic conditions. In almost all circumstances, this situation causes negative effects on one’s environment, especially starting from the financial close environment. This situation is similar to situations such as the occurrence of a disease and the occurrence of a disaster. The legislator is obliged to take measures to prevent the butterfly effect by compensating the negativities that may occur in the unit and the environment that have financial difficulties as a natural result of the responsibility and authority to regulate the economic life without causing very results and increasing the level of influence. The philosophy of concordat law constitutes a protection in order to eliminate the financial damaged situation at the economic level or to overcome it with the lowest level of negativity. While in the process before the legal arrangement regarding the concordat, the bankruptcy postponement application was included in the Turkish Legal System, due to the negativity experienced in the implementation of the legal arrangement, this application was replaced by the concordat law in the Execution and Bankruptcy Law.
Turkish Legal System, concordat
|Author :||Yusuf Cahit ÇUKACI|
|Number of pages:||110-131|