Safeguarding Creditors in the Course of Simplified Reduction of Subscribed Capital

Gregor Drnovšek

Gregor Drnovšek

Keywords: simplified subscribed capital reduction, safeguarding of creditors, capital inadequacy, payment ban, tied assets

Abstract

The central characteristics of simplified subscribed capital reduction are its very narrow purpose, and a weakened regime of safeguarding of creditors. The main and, frankly, only purpose of the institution is recovery. It is namely most difficult to expect from a distressed company undergoing simplified subscribed capital reduction, which is first and foremost intended for recovery, to safeguard its creditors in the same extent as in the case of ordinary reduction of subscribed capital. The article provides an analysis of the intent and purpose of simplified subscribed capital reduction and the regulations governing the safeguarding of creditors. Using a descriptive method, subject matter analysis, and comparative legal analysis of the issue, the article elaborates on why regulations governing the safeguarding of creditors are too weak with regard to the effects brought forth by this type of subscribed capital reduction and proposes appropriate supplementation and amendments to applicable legislation.

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Author Biography

Gregor Drnovšek

Cankarjeva ulica 25 a, Maribor, Slovenia
E-mail: gregor.drnovsek1@telemach.net

Gregor Drnovšek successfully defended his Ph.D. thesis in corporate law in January 2015 at the Faculty of Law in Maribor, where he was appointed to an assistant position. In addition, he has acquired more than 10 years of experience in economy, especially in banking, where he specialized in investment banking and corporate finance and served as executive secretary of a management board. He is the author of various original scientific articles and professional articles as well as co-author of monographs. In addition, he has participated in scientific conferences. His research and studies focus mainly on corporate law and takeover law.

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