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ARTICLE · 10 AUGUST 2022

Draft Amendment To The Insolvency Act In Limbo

In the course of public consultations, there have been notable criticisms to the proposed changes.

SloveniaInsolvency/Bankruptcy/Re-Structuring

Background of the current status of implementation

As the 17 July 2022 deadline for Slovenia to implement the Directive (EU) 2019/1023 on Restructuring and Insolvency ("the Directive") is fast approaching, it is still not entirely clear exactly when and how its provisions will be transposed into Slovenian law.

A draft amendment of the main Slovenian insolvency law, the Financial Operations, Insolvency Proceedings, and Compulsory Dissolution Act ("Insolvency Act") that (among several other topics) provides for transposition has been in circulation among various state authorities and the interested public for over a year. This draft was prepared under the previous government; however, it has not been finally confirmed by the executive, nor has it been proposed to the National Assembly for adoption.

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