What is Insolvency (According to the Slovenian Law)

Crises in business occur at different levels and in different dimensions, and often cannot be managed without the help of insolvency proceedings and insolvency law. Crisis management in these cases is extremely challenging and risky, although often the last way out of an acute crisis situation. The Slovenian normative regulation and the business and insolvency practices in place give companies that find themselves in an acute crisis and require the protection of the court a limited formal and practical opportunity to successfully manage (remedy) the resulting crisis and thus ensure their survival and further development, but the insolvency procedure alone cannot be successful if the other business conditions are not ensured to be fulfilled. Taking into account the theoretical findings and research results, the chapter additionally concludes that insolvency law in companies (creditors and debtors) is insufficiently known to managers, thus making it practically less useful in crisis resolution procedures.