Representation and administration authorization of Data Menkul Kiymetler Ticareti A.S, (Data) for which award of “Progressive Liquidation was given under the resolution of the Board No. 13/326 of 13.03.2003, has passed to the Fun on the same date in accordance with the Capital Market Law CML) Article 46/B paragraph 3. 54 legal actions for disagreement are followed up by the Fund as representative of Data. 7 of these disputes are legal actions and 47 for executive follow up.

Executive Proceedings

Executive proceedings are carried out by the Fund as representative of the Intermediary Institution against 28 debtors on the date of 13.10.2003. Total amount of the said executive proceedings is TL7,197,517,457,610. 9 of the proceedings carried out have become firm, 11 discontinued as a result of objection and no notification was made to 8 debtors; and police security examination was requested for these debtors. One of the said executive proceedings was made against the big partner and executive of the Intermediary Institution.

In the same period, 19 executive proceedings without court decision were made against Data. These proceedings discontinued as per CML Article 46 paragraph 2. The total amount of the said proceedings is TL474,020,515,431.

Legal Actions

A legal action continues that has been opened for taking from the defendant the possession of the share certificates, together with all their earnings, which had been disposed without deliberation while they were in possession of Data Menkul Kiymetler Ticareti A.S. and taking back their possession pursuant to the Civil Code 989 and in order to prevent sale of the said share certificates, a precautionary measure was taken in line with the request of the Fund. In another legal action opened by the Fund, it is legal action for cancellation of disposal opened by IIK Article 276 with respect to the real estate which was sold when it was registered in the name of Data.

3 legal actions in total are followed up by the Fund as representative of Data. The first of these legal actions is a legal action which was opened by a former employee of the intermediary institution for violation of the employee’s rights. The second legal action is the action for credit opened by a customer of the intermediary institution.
Another action followed up by the Fund is a legal action opened against Van agency of the intermediary institution prior to the date of liquidation by a group of investors claiming to be customers of Data for return of 3,377,462 share certificates.