Preventive restructuring
BANK ACCOUNTS BLOCKED?
JUDICIAL ENFORCEMENT IN PROGRESS?
LONGER DELAY IN PAYMENT OF SALARIES TO EMPLOYEES?
UNSETTLED TAX LIABILITIES AND DUTIES FOR EMPLOYEES?
INSOLVENT POSITION OF COMPANY!!!???
DO YOU WANT TO REHABILITATE YOUR COMPANY?
DO NOT BE PASIVE IN ELIMINATING OF THE CAUSES FOR ARRISED SITUATION!
DO NOT RISK CRIMINAL AND INDEMNITY LIABILITY OF MANAGEMENT!
In accordance with the provision of Financial operations, insolvency proceedings and compulsory dissolution act (ZFPPIPP, Zakon o finančnem poslovanju, postopkih zaradi insolventnosti in prisilnem prenehanju) the preventive restructuring proceeding is conducted with the purpose to provide the debtor, who is according to the Slovenia Companies Act (ZGD-1) a small, middle or large company and which is likely to become insolvent within a period of one year, to impose appropriate measures to restructure its financial obligations under the financial restructuring agreement (in particular conclusion of such an agreement with the creditors) as well as other financial restructuring measures, which shall be deemed necessary to eliminate the causes due to which the debtor could become insolvent.
The purpose of the preventive restructuring proceedings is that the debtor settles a financial restructuring agreement with the creditors, who hold the financial claims against the debtor, on the basis of which their financial claims are reduced or their maturity is postponed or the interest rate is changed.
Preventive restructuring proceedings can be initiated when the debtor is not insolvent yet and is likely to become insolvent within a period of one year. It is presumed a aforementioned reason exists if with the initiation of the preventive restructuring procedure agree the creditors who are the holders of financial claims against the debtor, which together amount to 30 percent of the sum of all financial claims against the debtor.
A financial restructuring agreement shall enter into force when the conclusion thereof has been agreed between the debtor and the creditors whose total amount of ordinary financial claims included in the basic list of financial claims comprises at least 75 per cent of the sum of all ordinary financial claims included in this list and if the agreement also affects secured financial claims also when the same is done by the creditors whose aggregate amount of secured financial claims included in the basic list of financial claims comprises at least 75 per cent of the sum of all secured financial claims included in this list. The financial restructuring agreement has an effect for the claims of all creditors, who have agreed with the conclusion of the agreement, in the manner and to the extent specified in the agreement. Other obligations entered into by the conclusion of this Agreement shall also have effect against those creditors. In general and subject of certain exceptions, defined by the law (ZFPPIPP), the reduction or postponement of the maturity of ordinary or secured financial claims from the basic list of the financial claims, set out in the financial restructuring agreement, also applies to holders of the claims, who have not given their consent to the conclusion of this agreement.
Do not hesitate with adoption and execution of measures, prescribed and allowed by the relevant legislation for the companies and other business entities that are in troubles or insolvent!
For the preparation of all necessary in connection with the proposal for the introduction of the preventive restructuring proceeding contact as soon as possible professionals for restructuring of business entities – the company SKUPINA VERITAS d.o.o.
© SKUPINA VERITAS d.o.o.
Tyrševa ulica 18 | 2000 Maribor | +386 2 22 08 900 | info@veritas.si