The Constitutional Court of Slovenia Makes a Long-Awaited Decision
Ljubljana, Slovenia, November 1, 2016 (Newswire.com) - On October 27, 2016, the Constitutional Court of the Republic of Slovenia (Constitutional Court) completed its constitutional review of legal regulations used to support the expropriation of subordinated bondholders and shareholders of six Slovenian banks during the Slovenian bank bail-in. The Constitutional Court found that two articles, Article 350.a of the Banking Act (ZBan-1) and Article 265 of the ZRPPB, were unconstitutional because these articles deprived expropriated investors of the right to efficient judicial protection guaranteed by Article 23 of the Constitution of the Republic of Slovenia. It also ordered the National Assembly of the Republic of Slovenia (National Assembly) to remedy the established unconstitutionality by adopting a legal regulation to ensure efficient judicial protection of expropriated persons.
