411 MISCELLANEOUS The creditor will keep the guarantee granted to him, and if money was deposited to a bank for the creditor, he will have a priority right over that money.2 Pledgees will also benefit the same right. In addition, if the pledgee requests termination, and termination of concordat has been decided for that creditor, and if the 2/3 majority condition pursuant to Article 308/h/3 of the EBL is no longer applicable, the pledgees who rejected the offer of the debtor, but are subjected to the payment plan, will no longer be bound by that plan. On the other hand, in a prior decision of the Court of Cassation, which traces back to the previous concordat period, it is ruled that even if it were accepted that payments will be made before finalization of the confirmation of the concordat, a request for termination could only be claimed after the concordat has become final. This decision, which may also become the subject of a discussion in the current concordat period, was criticized by Pekcanıtez.3 Another method is that the creditor for whom the concordat conditions have not been met may initiate an execution proceeding without requesting termination. In such a case, the previous decisions of the Court of Cassation may be discussed.4 This is because in the previous concordat period, the Court of Cassation decided that execution proceeding cannot be initiated without filing a lawsuit for termination. However, there is a consensus in the literature stating that execution proceedings may be initiated without filing a lawsuit for termination.5 In that case, the amount of the receivable in the execution proceeding to be initiated will be limited by the unpaid amount written in the concordat project. The creditor cannot initiate execution proceedings for the payment of the debt unless the termination of concordat is decided. On the other hand, the creditor may continue previous execution proceedings for the full amount of the receivable, if the concordat 2 Pekcanıtez, Atalay / Özekes, Özkan: İcra ve İflas Hukuku, 11th ed., 2013, p. 817. 3 Pekcanıtez, Erdönmez: 7101 sayılı Kanuna Göre Konkordato, İstanbul, 2018, p. 166-167. 4 12th CC of the Court of Cassation, No. 2430 E. 10285 K., 22.10.1990. 5 Muşul,Timuçin: İcra ve İflas Hukuku Esasları, 2017, p. 846; Kuru, Baki: İstinaf Sistemine Göre Yazılmış İcra ve İflas Hukuku, 2016, p. 702.
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