The Slovenia Times

Parliament Abolishes Instrument of Land as Debt Collateral

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The changes were already endorsed by the parliamentary Justice Committee on 8 October and have been also welcomed by the government.

According to DL deputy group head Rihard Braniselj, the instrument was abused in order to make it harder to creditors to collect debt and to the state to confiscate illegally gained assets.

Braniselj pointed to the secretive nature of the instrument, which is used similarly as a mortgage, with the difference that the name of the holder of the claim is not public. The holder cannot be revealed until the claim is fully executed, he stressed.

He added that the institute has morphed into "plain abuse of rights", with the deputies agreeing during the debate that "something is very wrong" with it.

Among those suspected of abusing it, the DL has mentioned ex Istrabenz holding boss Igor Bavčar, former construction baroness Hilda Tovšak, the boss of the former logistics giant Viator&Vektor Zdenko Pavček, and the former chairman of pharmacy chain Lekarna Ljubljana Marko Jaklič.

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