Navigation path

Share on 
	Share on Facebook
  
	Tweet it
  
	Share on google+
  
	Share on linkedIn
  
    
      E-mail
Set page to normal font sizeIncrease font size by 200 percentBookmark this pageChoose high-contrast version

Slovenia

Financial difficulties

Updated 04/2010

Legal requirements

 The Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act defines the term  'insolvency' as an economic and financial situation of a debtor, which makes him/her long-term/permanently unable to pay his/her debts as they fall due (prolonged illiquidity) or makes him/her unable to pay his/her debts over the long term (long term insolvency).

It shall be deemed that the debtor's securities or other assets are in a state of prolonged illiquidity if the debtor fails to settle one or more of his/her liabilities for more than 2 months after the due date, providing that the total amount of unsettled liabilities exceeds 20 % of the debtor's liabilities showed in his/her annual report for the last financial year before these liabilities mature.

It shall be deemed that the debtor's securities or other assets are in a state of long term insolvency if the value of the debtor's property is lower than the amount of his liabilities.

As, in accordance with the EU policy, the preferential task of the EU is preventing the collapse of companies, the legislation introduces settlement proceedings to prevent bankruptcy by resolving the insolvency of a company through financial restructuring measures and allowing the company to increase its authorised capital by new contributions paid in (conversion of receivables, subscription of new shares etc.

Company stabilisation

 National aid for companies in difficulties is regulated by the  Act Governing Rescue and Restructuring Aid for Companies in Difficulty.

This act lays down the purpose and types of national aid, the criteria, procedures and the methods of providing additional financing, which shall be borne by the budget of the Republic of Slovenia, to rescue and restructure a company in difficulties, provided that such company has its registered office in Slovenia.

 The Ministry of Finance, in accordance with the Monitoring of State Aid Act, coordinates and monitors the national aid for rescuing companies in difficulties and controls its compliance with legislation.

Companies in difficulties may decide to use a bank loan . If they cannot provide for the appropriate loan guarantee, they may obtain a loan guarantee from the Slovenian Enterprise Fund.

In addition to the business banks there are various financial institutions, which offer their products (grants and reimbursable funds) to finance business operations, investments, exports and development activities of companies:

  • SID Bank (Slovenian export and development Bank, d.d.)
  • Slovenian Public Fund for Entrepreneurship
  • Public Agency of the Republic of Slovenia for Entrepreneurship and Foreign Investments (JAPTI)
  • Public Agency for Technological Development of the Republic of Slovenia
  • Eco Fund
  • Housing Fund
  • Regional Development Fund
  • Public Agency for Research Activity of the Republic of Slovenia etc.

The ability of legal entities to pay their liabilities (solvency) may be formally checked on the Websites with publicly accessible records (Bank of Slovenia, AJPES etc.).

The Execution of Judgments in Civil Matters and Insurance of Claims Act regulates the procedural rules – used by courts when they enforce the settlement of claims on the basis of a document permitting enforcement and other documents needed for recovery of debts – as well as rules for the insurance of claims.

Access to different sources of finance can help overcome financial difficulties.

When filing for bankruptcy is the only option left for a business owner, it pays to cut your losses, initiate proceedings sooner rather than later, and move on to a new project.

Administrative procedures

Kapitalska družba, d. d. (KAD) is a company with share capital (PLC) which founded a special company for corporate restructuring called Posebna družba za prestrukturiranje d.d. for effective business procedures and financial restructuring of companies.

Payment Order

This instruction describes the performance of payment transactions between banks.

Deferred Payment

An application for writing off or depreciating assets, deferred payment or payment by instalment of taxes may be submitted by a natural person, as well as an individual private entrepreneur and an individual, carrying out his business activity independently, but only for taxes relating to the performance of that activity.

Reorganisation

The annual report will also include a Report on financial restructuring measures , and it must be submitted to the Agency of the Republic of Slovenia for public and legal records and services (AJPES) within 3 months after the end of the financial year.

Notice of Termination

In accordance with the Employment Relationships Act the employer may decide to make a larger number of workers redundant. For this purpose he must draft a programme to relieve the redundant workers, and before doing so he must consult the trade union and then inform the Employment Service. Once the employer's request has been granted, he may terminate the employment contract 30 days after fulfilment of the request.

If the company declares bankruptcy or liquidation proceedings, a bankruptcy panel or liquidator may terminate the employment contracts by serving a 15-day notice.

Resources

Information on a company’s credit references (business information) may be purchased from various providers and among them the most important are the Bisnode company which offers information about 40,000 companies, banks, insurance companies and pension funds, and 55,000 private entrepreneurs in Slovenia, and the Agency for corporate credit references, Bonitetna hiša I, which is in partnership with the biggest Agency for corporate credit references (business information), Dun & Bradstreet.

Services may also be purchased from them and they include: comparative financial analysis, business analysis, forecasts in the context of business reports, balance sheets and interim reports.

 The State Institutions owning the most of basic data on companies in Slovenia are:

Consultation on tax matters is available in the Tax Bulletin on the Website Tax Administration.         

Programmes

If you are s small or medium enterprise in difficulties you can contact the Chamber of Crafts and Small Businesses which offers information about possible help through contract notices for granting financial incentives from the EU.

Help & advice

Help & advice

E-mail a business organisation near you

The EU runs a network (Enterprise Europe Network) of local business organisations in most European countries that may be able to help you.

Choose your country and town and enter your enquiry below.

Country

Austria

Feldkirch

Graz

Innsbruck

Klagenfurt

Linz

Salzburg

Wien

Belgium

Antwerpen

Arlon

Brugge

Brussels

Charleroi

Gent

Hasselt

Leuven

Libramont

Liège

Mons

Namur

Nivelles

Bulgaria

Dobrich

Plovidiv

Ruse

Sandanski

Sofia

Stara Zagora

Vratsa

Yambol

Croatia

Osijek

Rijeka

Split

Varazdin

Zagreb

Cyprus

Nicosia

Czech Republic

Brno

Brno

Liberec

Ostrava

Ostrava

Pardubice

Plzen

Praha

Usti nad Labem

Denmark

Aalborg

Copenhagen

Herning

Kolding

Næstved

Viborg

Estonia

Tallinn

Finland

Helsinki

Oulu

Tampere

Turku

Vantaa

France

Amiens

Annecy

Aulnat

Besançon

Bordeaux

Bourg en Bresse

Caen

Cayenne

Chalons-en-Champagne

Chambéry

Dijon

Fort-de-France

Grenoble

Lille

Limoges

Lyon

Marseille

Marseille

Montpellier

Montpellier

Nancy

Nantes

Orléans

Paris

Pointe-à-Pitre

Poitiers

Privas

Rennes

Rouen

Saint-Denis

Saint-Etienne

Strasbourg

Toulouse

Valence

Germany

Berlin

Bremen

Bremenhaven

Chemnitz

Dresden

Düsseldorf

Erfurt

Frankfurt/Oder

Freiburg

Hamburg

Hannover

Kaiserslautern

Kiel

Konstanz

Leipzig

Magdeburg

Mannheim

Mülheim an der Ruhr

München

Potsdam

Reutlingen

Rostock

Saabrücken

Stuttgart

Trier

Ulm

Villingen-Schwenningen

Wiesbaden

Greece

Athens

Heraklion

Ioannina

Kavala

Kozani

Thessaloniki

Tripolis

Volos

Hungary

Budapest

Debrecen

Eger

Győr

Miskolc

Nyíregyháza

Pécs

Szeged

Székesfehérvár

Zalaegerszeg

Ireland

Dublin

Italy

Abruzzo

Aosta

Apulia

Ascoli Piceno

Basilicata

Bologna

Bologna

Cagliari

Calabria

Calabria

Campania

Catania

Florence

Genova

Gorizia

Milano

Molise

Naples

Palermo

Palermo

Perugia

Pesaro

Pisa

Pordenone

Ravenna

Rome

Rovereto

Sassari

Sicily

Terni

Torino

Trieste

Udine

Venezia

Venezia

Venezia

Latvia

Riga

Lithuania

Kaunas

Klaipėda

Vilnius

Luxembourg

Luxembourg

Malta

Pieta`

Netherlands

Den Haag

Nieuwegein

Norway

Ås

Oslo

Stavanger

Tromsø

Poland

Bialystok

Gdańsk

Kalisz

Katowice

Kielce

Konin

Kraków

Lublin

Lublin

Olsztyn

Opole

Poznań

Rzeszów

Szczawno-Zdrój

Szczecin

Toruń

Warsaw

Warsaw

Warsaw

Wroclaw

Zielona Góra

Łódź

Portugal

Aveiro

Braga

Coimbra

Évora

Faro

Funchal

Lisboa

Ponta Delgada

Porto

Romania

Arad

Bacau

Bucuresti

Cluj-Napoca

Constanta

Craiova

Galati

Iasi

Ramnicu Valcea

Timișoara

Slovakia

Bratislava

Prešov

Slovenia

Koper

Ljubljana

Maribor

Spain

Albacete

Alicante

Badajoz

Barcelona

Bilbao

Ciudad Real

Donostia- San Sebastian

Ferrol

Las Palmas de Gran Canaria

Llanera

Logroño

Madrid

Murcia

Oviedo

Palma

Pamplona

Paterna (Valencia)

Santa Cruz de Tenerife

Santander

Santiago de Compostela

Sevilla

Toledo

Valencia

Valladolid

Vitoria- Gazteiz

Zaragoza

Sweden

Borlänge

Göteborg

Jönköping

Kramfors

Luleå

Malmö

Örebro

Östersund

Stockholm

Umeå

Västerås

Växjö

United Kingdom

Belfast

Bristol

Cambridge

Cardiff

Coventry

Inverness

London

Manchester

Newcastle

Yorkshire and Humber

Enter your message here

* required field (you must enter data here)