LOL Slovenia

I just found this gem:

Čas je, da gre politika v stečaj!

Apparently, Slovenia has had an issue with high-profile companies going bankrupt in circumstances that may have involved fraud (but probably involved state favoritism and incompetence). The legal system in Slovenia is incapable of punishing people responsible, so the parliament passed a law which imposes the following blanket punishment:

Everyone who had an ownership or leadership role in a bankrupt company is prohibited from co-owning or leading another company, for 10 years after the end of the previous company's bankruptcy proceedings.

Bankruptcies in Slovenia can take decades, so the effective duration of the punishment may be much longer than 10 years.

Not only that, but people who had an ownership or leadership role in a bankrupt company up to two years before the bankruptcy are also subject to the same prohibition.

Is that ridiculous, or what?

Who on Earth is going to want to run a business in Slovenia?

Suppose a company is in trouble and needs new leadership. Who's going to come to its rescue, risking to lose all of their rights to do business in Slovenia, in case they fail?

Given this new law, the most prudent course of action for anyone who wants to establish a new business is to establish it outside of Slovenia. Slovenia is a tiny country, and it's part of the EU. There are several neighboring countries, only an hour's drive away, where you can found your company in a more sensible jurisdiction. There goes Slovenian tax revenue!

What a joke!

This makes me laugh at the ineptitude of Slovenian politicians, as well as feel fortunate for leaving. A country that makes these kinds of choices is on a road to self-defeat.

Comments

Marko said…
Hear, hear!
However stupid these guys behind the steering wheel of this sad country of ours might be, I guess they are not stupid enough to pass an act like that. :S
verbatim said…
It is already passed.

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