Slovenia: Implementation of ZPUOOD suspended in less than a month
The Circuit Court of Ljubljana filed a request to review the constitutionality of Arts.
1 - 17 of the Act on Procedures for the Enforcement or Remission of the Shareholders’ Liability for the Obligations of Deleted Companies (ZPUOOD) which entered into force on 17 November this year (http://www.schoenherr.eu/news-publications/legal-insights/slovenia-limiting-the-liability-of-shareholders-of-deleted-companies). The petitioner proposed to suspend the challenged provisions.
The Constitutional Court agreed that it would be difficult to remedy the harmful consequences that could result from the implementation of challenged provisions. Therefore on 1 December 2011 it rendered a decision suspending the provisions relating to the open proceedings against the shareholders of companies deleted pursuant to the Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act (ZFPPIPP) or the Financial Operations of Companies Act (ZFPPod) (para. 2-4, Art. 1, Art. 2- 17 ZPUOOD) until its final decision. These proceedings remain suspended in accordance with para. 1, Art. 1 ZPUOOD; however, the debtors cannot lodge proposals for remission of obligations.
It is still not possible to submit new proposals to continue procedures against shareholders under the ZFPPIPP. The suspension does not relate to Art. 18 ZPUOOD, which annulled the provision enabling enforcement against the shareholders of deleted companies to continue.
The complete text of the resolution (in Slovenian) can be viewed at http://www.us-rs.si/odlocitve/zacasna-zadrzanja/zadrzanje-izvrsevanja-drugega-do-cetrtega-odstavka-1-clena-in-2-do-17-clena-zakona-o-postopkih-za-uv/.
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