Enigma (ne)učinkovitosti prisilne poravnave v Zakonu o finančnem poslovanju, postopkih zaradi insolventnosti in prisilnem prenehanju
Izvleček
Pravilo absolutne prednosti (Absolute Priority Rule) je nepo-sredna posledica univerzalnega pravnega načela pacta sunt ser-vanda, ki v pravnem prometu zagotavlja spoštovanje ter izpolnitev obligacij in drugih korporacijskopravnih pogodbenih zavez ter njihovega vrstnega reda glede prednostnega poplačilnega upra-vičenja, izhajajočega iz narave njihove utrditve (različne oblike zavarovanja, garancija, poroštvo ipd.), veljavno nastalih pred na-stankom insolventnosti podjetja. Pravilo je neločljivo povezano z razumevanjem pojma insolventnosti kot temeljnega pojma insol-venčnega prava in s pojmovanjem ekonomske funkcije oziroma narave lastnine.
References
www.troutmansanders.com/files/Publication/0364074c-b8b5-4a14-b859-7967fcb19050/Presentation/
PublicationAttachment/a013e0e3-6c11-4d51-aa55-093a0cfa426f/art-cohen.pdf (zadnjič obiskano:
10. 10. 2013).
Jaka Cepec in drugi, Bankruptcy procedures in Slovenia: a legal and economic perspective, The Slovenian
economy: stranded in recovery, Časnik Finance, Ljubljana (2011).
Jonathan Hicks, Foxes Guarding the Henhouse: The Modern Best Interests of Creditors Test in Chapter 11
Reorganisations (2005), http://scholars.law.unlv.edu/cgi/viewcontent.cgi?article=1361&context=nlj
(zadnjič obiskano: 3. 10. 2013).
Jose M. Garrido, Out-of-court Debt Restructuring: the study presented at the World Bank Insolvency
and Creditor Rights Task Force, World Bank, Washington DC (2011),
https://openknowledge.worldbank.org/bitstream/handle/10986/2230/662320PUB0EPI00turing0978
0821389836.pdf?sequence=1 (zadnjič obiskano: 3. 10. 2013).
Katarina Zajc in Jaka Cepec, Globalna finančna kriza in novele Zakona o finančnem poslovanju,
postopkih zaradi insolventnosti in prisilnem prenehanju, Podjetje in delo, GV Založba, št. 7
(2012).
Pasquale Kenneth, Armstrong World Industries: Absolute priority is more than »FAIR«, American
Bankruptcy Institute Journal, vol. XXV, št. 3 (2006), http://www.stroock.com/SiteFiles/Pub421.pdf
(zadnjič obiskano: 10. 10. 2013).
Leo Plank, Bernd Meyer-Löwy, Carl Pickerill, The New German Insolvency Code: Decoding Improvements
and Remaining Risks, American Bankruptcy Institute Journal, vol. XXXI, št. 2 (2012), http://
www.kirkland.com/siteFiles/Publications/ABI_051412.pdf (zadnjič obiskano: 3. 10. 2013).
Lucian A. Bebchuk, Randal C. Picker, Bankruptcy Rules, Managerial Entrenchment, and Firm-specific
Human Capital, John M. Olin Law & Economics Working Paper, The University of Chicago Law
School, št. 16, 2. izdaja (1993), http://www.law.uchicago.edu/files/files/16.Bebchuk-Picker.pdf
(zadnjič obiskano: 10. 10. 2013).
Lucian A. Bebchuk, Ax ante Costs of Violating Absolute Priority in Bankruptcy, Harvard Law School,
The Centre for Law, Economics, and Business, Discussion paper, št. 328 (2001), http://www-law.
harvard.edu/programs/olin_center/ (zadnjič obiskano: 25. 9. 2013).
Lucian A. Bebchuk, A New Approach to Corporate Reorganisation, Harvard Law Review, vol. 101
(1998), str. 775–804,
http://www.law.harvard.edu/faculty/bebchuk/pdfs/hlr.88.pdf (zadnjič obiskano: 11. 10. 2013).
Manfred Balz, Market Conformity of Insolvency proceedings: Policy Issues of the German Insolvency
Law, 1 Brookl. Journal of Intern. Law, št. 23 (1997),
http://siteresources.worldbank.org/GILD/ConferenceMaterial/20152188/Germany%20-%20Balz.pdf
(zadnjič obiskano: 14. 10. 2013).
Maria Brouwer, Reorganisation in US and European Bankruptcy Law, University of Amsterdam,
Amsterdam (2005), http://www1.fee.uva.nl/pp/bin/175fulltext.pdf (zadnjič obiskano: 10. 9.
2013).
Marko Simoneti in Jernej Radež, Krizni institucionalni okvir za prestrukturiranje bank in podjetij:
kako naprej?, Podjetje in delo, GV Založba, št. 6–7 (2013).
Mark J. Roe, Corporate restructuring and bankruptcy, Foudation press, New York (2000).
Nemški stečajni zakon: Insolvenzordnung - Gesetz vom 5. 10. 1994 (BGBl. I S. 2866), stopil v veljavo
19. 10. 1994 bzw. 1. 1. 1999, nazadnje spremenjen 15. 7. 2013 (BGBl. I S. 2379) m.W.v. 19. 7. 2013,
http://www.gesetze-im-internet.de/bundesrecht/inso/gesamt.pdf (zadnjič obiskano: 3. 10. 2013).
Philippe Aghion, Oliver Hart in John Moore, The Economics of Bankruptcy Reform, Journal of
Law, Economics and Organisation, št. 8 (1992), http://papers.ssrn.com/sol3/papers.cfm?abstract_
id=259420 (zadnjič obiskano: 10. 10. 2013).
Robin Bicket White, The New Value Exception to the Absolute priority Rule is alive and well after
203 North La Salle, http://www.frostbrowntodd.com/resources-1564.html (zadnjič obiskano: 5. 10.
2013).
Sodba ameriškega zveznega sodišča okrožja Delaware: 984 F.2d 1305, 23 Bankr. Ct. Dec. (CRR) 1529,
28 Collier Bankr. Cas. 2d (MB) 451, Bankr. L. Rep. (CCH) P 75090 (1st Cir. 1993).
Sodba ameriškega zveznega pritožbenega sodišča, tretje okrožje: 320 B.R. 523 (D Del. 2005), http://
caselaw.findlaw.com/us-3rd-circuit/1132313.html (zadnjič obiskano: 10. 10. 2013).
Sodba ameriškega zveznega pritožbenega sodišča, drugo okrožje: 478 F.3d 452 (2d Cir. 2007).
UNCITRAL Legislative Guide on Insolvency Law, New York (2005), http://www.uncitral.org/pdf/
english/texts/insolven/05-80722_Ebook.pdf (zadnjič obiskano: 3. 10. 2013).
Zakon o finančnem poslovanju, postopkih zaradi insolventnosti in prisilnem prenehanju, Uradni list
RS, št. 63/13-UPB7.
http://www.mp.gov.si/si/storitve_in_mnenja_mpju/uporabni_seznami_imeniki_in_ evidence/sodna_
statistika/ (zadnjič obiskano: 25. 9. 2013).
http://www.doingbusiness.org/data/exploreeconomies/slovenia/#resolving-insolvency (zadnjič obiskano:
25. 9. 2013).
http://thelawdictionary.org/absolute-priority-rule/ (zadnjič obiskano: 10. 10. 2013).
http://www.jonesday.com/Application-of-the-Absolute-Priority-Rule-to-Pre-Chapter- 11-Plan-Settlements--
In-Search-of-the-Meaning-of-Fair-and-Equitable-06-11-2007/ (zadnjič obiskano: 3. 10. 2013).
http://caselaw.findlaw.com/us-2nd-circuit/1193131.html (zadnjič obiskano: 10. 10. 2013).
http://www.grantthornton.com/staticfiles/GTCom/Advisory/Restructuring%20and% 20turnaround/
Role_of_Best_Interest_of_Creditors_Test_Practical_Guidance_FINAL.pdf (zadnjič obiskano: 10. 10.
2013).

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors are confirming that they are the authors of the submitting article, which will be published (print and online) in journal Dignitas by Nova univerza, Fakulteta za slovenske in mednarodne študije. Author’s name will be evident in the article in journal. All decisions regarding layout and distribution of the work are in hands of the publisher.
- Authors guarantee that the work is their own original creation and does not infringe any statutory or common-law copyright or any proprietary right of any third party. In case of claims by third parties, authors commit their self to defend the interests of the publisher, and shall cover any potential costs.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a
Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal. - Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.