Administrator of insolvency proceedings and compulsory liquidations
An administrator is an authority in insolvency proceedings who performs their responsibilities and tasks in these proceedings stipulated by the law to protect and realise the interests of creditors.
In bankruptcy proceedings, an administrator manages the operations of an insolvent debtor in accordance with the requirements of the proceedings, and represents the debtor in:
- proceedings and other legal actions regarding testing claims, the right to separate settlement and the right of exclusion,
- proceedings and other actions regarding contesting the of legal actions of the insolvent debtor,
- legal transactions and other actions required to capitalise the bankruptcy estate,
- realising the right to withdrawal and other rights acquired by the insolvent debtor as legal consequences of the commencement of bankruptcy proceedings, and
- other legal transactions which may be carried out by the insolvent debtor in accordance with this act.
An administrator must perform their tasks and competences in accordance with the Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act (ZFPPIPP) and regulations issued on its basis, and in accordance with other acts applicable to insolvent debtors and regulations issued on their basis, and with the rules of the profession of persons who carry out transactions for other persons as agents.
In performing their tasks and responsibilities, an administrator must act conscientiously and fairly with suitable professional diligence to protect and realise the interests of creditors, which should be the guiding principle in performing these tasks and responsibilities.
The function of an administrator may be performed only by a person with a valid authorisation issued by the minister responsible for justice to perform the function of an administrator of insolvency proceedings and compulsory liquidations.
The specific procedure for appointing an administrator: an administrator is appointed by the court with a decision on initiating insolvency proceedings. In individual insolvency proceedings, an administrator may be a person:
- who is entered in the list of administrators, and
- the court registered as the court where the administrator performs the function.
For each case, the court must appoint a new administrator from the list of selected administrators of an individual district court according to the order of sequence numbers of the permit to perform the function of an administrator. In bankruptcy proceedings in companies which are defined as large companies in the Companies Act (ZGD-1), an administrator may be only a person who has performed the tasks and responsibilities of an administrator for two years prior to being appointed.
Persons with a valid permit to perform the function of an administrator must be members of the Chamber of Insolvency Administrators of Slovenia.
The provisions of the Rules on the tariff for assessing the remuneration of administrators of insolvency proceedings and compulsory liquidations, and the amount of remuneration to which an administrator is entitled are used to calculate the remuneration of an administrator and other costs to which the administrator is entitled.