magistrsko delo
Primož Pirnat (Avtor), Saša Prelič (Mentor), Lina Burkelc Juras (Komentor)

Povzetek

V magistrskem delu je primarno obravnavano varstvo upnikov pri umiku delnic in umiku poslovnih deležev kot načinih zmanjšanja osnovnega kapitala pri delniški družbi (d. d.) in družbi z omejeno odgovornostjo (d. o. o.). Tako umik delnic kot umik poslovnega deleža predstavljata korporacijskopravno dejanje d. d. ali d. o. o., s katerim se razveljavijo korporacijske pravice in obveznosti delničarjev ali družbenikov, ki so jih imeli na podlagi imetništva umaknjenih delnic ali poslovnih deležev. Umik poslovnega deleža s strani d. o. o. je sicer primerljiv z umikom delnic, vendar pa kljub zakonski napotitvi na smiselno uporabo določb o umiku delnic med obema institutoma obstajajo določene pomembne razlike. Pri umiku lastnega poslovnega deleža s strani d. o. o. je treba upoštevati posebne pogoje za dopustno pridobitev lastnih poslovnih deležev ter institut izključitve in izstopa družbenika iz d. o. o. (slovensko pravo takšnega instituta pri d. d. ne pozna), ki predstavlja poseben način umika poslovnega deleža, ki ima lahko za posledico (med drugimi možnostmi) tudi zmanjšanje osnovnega kapitala d. o. o. Predvsem institut izključitve družbenika iz d. o. o. je na prvi pogled podoben institutu prisilnega umika delnic, vendar pa predstavlja specialnejše in za d. o. o. prilagojeno pravilo. Osnovno razlikovanje med prisilnim umikom delnic in umikom lastnih delnic (ki velja pri d. d.) pri d. o. o. tako ni mogoče. Pri d. o. o. namreč »prisilni umik poslovnih deležev«, ki bi smiselno upošteval ureditev pri d. d., ne pride v poštev, ker bi s tem posegli v substančno ureditev izključitve in izstopa družbenika iz d. o. o. Prav zaradi navedenega pa se postavlja vprašanje o smiselnosti trenutne nomotehnične zakonske ureditve področja zmanjšanja osnovnega kapitala z umikom poslovnih deležev, kjer je uporabljena metoda napotitve na smiselno uporabo določb o zmanjšanju osnovnega kapitala z umikom delnic. Obravnavana načina zmanjšanja osnovnega kapitala sta tesno povezana z (ne)dopustnostjo pridobivanja lastnih delnic in lastnih poslovnih deležev. Pred odplačno pridobitvijo lastnega poslovnega deleža mora d. o. o. oblikovati rezerve za lastne poslovne deleže, in sicer zgolj iz nevezanih kategorij lastnega kapitala, katerih namen ni varstvo upnikov. Posledično pri d. o. o. velja drugačen (predhodni) režim varstva upnikov kot pri d. d., saj se pri d. d. rezerve za lastne delnice oblikujejo šele po pridobitvi lastnih delnic. V tem je torej pri d. o. o. bistvena razlika v primerjavi z ureditvijo pri d. d., kjer ZGD-1 z vidika varstva interesov upnikov omogoča dve vrsti zmanjšanja osnovnega kapitala z umikom delnic (redni umik in poenostavljeni umik). Pri rednem umiku d. d. financira pridobitev lastnih delnic iz vezanih kategorij lastnega kapitala, vendar mora v tem postopku zagotoviti (naknadno) ustrezno varstvo upnikov. ZGD-1 posledično pri tej vrsti umika določa smiselno uporabo določb 375. člena ZGD-1 o varstvu upnikov pri rednem zmanjšanju osnovnega kapitala, vključno s postopkom varstva upnikov. Pri umiku delnic po poenostavljenem postopku se ne uporabljajo določbe o rednem zmanjšanju osnovnega kapitala (in s tem določbe o varovanju upnikov po 375. členu ZGD-1), če so delnice dane d. d. na razpolago neodplačno ali če se delnice umikajo v breme nevezanih rezerv. Pri d. o. o. je možen le poenostavljen (in ne tudi redni) umik.

Ključne besede

osnovni kapital;zmanjšanje osnovnega kapitala;varstvo upnikov;umik delnic s pridobitvijo;prisilni umik delnic;umik poslovnega deleža;pridobivanje lastnih delnic;pridobivanje lastnih poslovnih deležev;izstop ali izključitev družbenika;

Podatki

Jezik: Slovenski jezik
Leto izida:
Tipologija: 2.09 - Magistrsko delo
Organizacija: UM PF - Pravna fakulteta
Založnik: [P. Pirnat]
UDK: 347.191.11:347.736(043.3)
COBISS: 236339971 Povezava se bo odprla v novem oknu
Št. ogledov: 0
Št. prenosov: 6
Ocena: 0 (0 glasov)
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Ostali podatki

Sekundarni jezik: Angleški jezik
Sekundarni naslov: Protection of creditors on the withdrawal of shares and business holdings
Sekundarni povzetek: The master thesis focuses on the protection of creditors in the case of the withdrawal of shares and business holdings as a means of reducing the base capital of joint-stock companies and limited liability companies. The withdrawal of shares and business holdings represent a corporate act of a joint-stock company or a limited liability company that revokes the corporate rights and obligations of shareholders or partners by virtue of their ownership of the withdrawn shares or business holdings. The withdrawal of business holdings is comparable to the withdrawal of shares, but despite the statutory reference to the meaningful application of the provisions on the withdrawal of shares, there are certain important differences between the two. In the case of withdrawal of business holdings, it is necessary to take into consideration the institute of exclusion and resignation of a partner from a limited liability company (which is not known under Slovenian law in the case of joint-stock companies), which is a special way of withdrawing a business holding that can result in (among other consequences) a reduction of the base capital. Particularly the exclusion of a partner is very similar to the institute of compulsory withdrawal of shares, although it is more specialised and tailored for limited liability companies. The basic distinction between the compulsory withdrawal of shares and the withdrawal of shares acquired by a joint-stock company for the purpose of withdrawal (which applies for joint-stock companies) is therefore not relevant in the case of a limited liability company. In the case of a limited liability company, a “compulsory withdrawal of business holdings” is not an option because it would interfere with the substantive rules governing the exclusion and resignation of a partner from a limited liability company. This raises the question of the sensibility of regulating the reduction of base capital by the withdrawal of business holdings by means of a referral method to the meaningful application of the provisions on the reduction of base capital by the withdrawal of shares. The two methods of reducing the base capital are closely linked to the question of the (in)admissibility of the acquisition of own shares and own business holdings. A limited liability company must always build up reserves for the acquisition of its own business holdings only from unrestricted categories of equity (which are not for the purpose of creditor protection), before acquiring its own business holdings. As a result, a different creditor protection regime applies to a limited liability company compared to a joint-stock company, where reserves for own shares are only built up after the acquisition of the own shares. This is therefore a significant difference compared to the regime in the case of a joint-stock company, where ZGD-1 allows, from the point of view of the protection of creditors' interests, two types of reduction of the base capital by way of a withdrawal of shares (regular withdrawal and simplified withdrawal). In a regular withdrawal, the joint-stock company finances the acquisition of its own shares from the tied-up categories of equity, but in the process must ensure (after the transaction) adequate protection of creditors. For this reason, ZGD-1 provides for a meaningful application of the provisions of Article 375 ZGD-1 on the protection of creditors in the event of an ordinary reduction of the base capital, including the creditor protection procedure, in this type of withdrawal. In the case of a simplified withdrawal of shares, the provisions on the ordinary reduction of base capital (and thus the provisions on creditor protection under Article 375 ZGD-1) do not apply if the shares are made available to the joint-stock company free of charge or if the shares are withdrawn against unrestricted reserves. In the case of a limited liability company, only a simplified (and not a regular) withdrawal is possible.
Sekundarne ključne besede: base capital;reduction of base capital;protection of creditors;withdrawal of shares;compulsory withdrawal of shares;withdrawal of business holdings;acquisition of own shares;acquisition of own business holdings;withdrawal or exclusion of a partner;Univerzitetna in visokošolska dela;
Vrsta dela (COBISS): Magistrsko delo/naloga
Komentar na gradivo: Univ. v Mariboru, Pravna fak.
Strani: 1 spletni vir (1 datoteka PDF (VII, 67 str.))
ID: 26033539