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Article 252

(claims of creditors which are affected by the initiation of bankruptcy proceedings)

The legal consequences of the initiation of bankruptcy proceedings provided for in Subsection 5.3.2 of this Act shall come into effect for all claims of creditors against the debtor in bankruptcy, incurred before the initiation of bankruptcy proceedings, unless otherwise provided for by the law in respect of a particular case.

Article 253

(conversion of non-monetary claims into monetary claims)

(1) Upon the initiation of bankruptcy proceedings, a non-monetary claim of the creditor against the debtor in bankruptcy shall be converted into a pecuniary claim according to the market value upon the initiation of bankruptcy proceedings.

(2) The market value of the claim converted under the first paragraph of this Article shall be determined by market prices for those assets which are the subject of a non-monetary claim, or for services.

Article 254

(conversion of occasional duty claims)

Upon the initiation of bankruptcy proceedings, the monetary and non-monetary claims of creditors against an debtor in bankruptcy the subject of which are occasional duties shall be converted into lump-sum claims.

Article 255

(conversion of claims expressed in a foreign currency)

Upon the initiation of bankruptcy proceedings, monetary claims of creditors against a debtor in bankruptcy expressed in a foreign currency shall be converted into claims expressed in euros at the rate published or determined and published by the Bank of Slovenia, and which applies on the day of the initiation of bankruptcy proceedings.

Article 256

(remuneration of claims)

(1) Upon the initiation of bankruptcy proceedings, the interest rates of contractual or default interest which apply to the claims of creditors against the debtor in bankruptcy shall be changed so that the interest of the claims of creditors remunerated before the initiation of bankruptcy proceedings run from the initiation of bankruptcy proceedings at the prescribed interest rate.

(2) If a claim of the creditor against the debtor in bankruptcy is not remunerated prior to its maturity, and the claim is not yet mature at the initiation of bankruptcy proceedings, interest on such a claim at the prescribed interest rate shall run as of the maturity of such claim.

Article 257

(the right of the debtor in bankruptcy to early payment)

(1) If, pursuant to the rules of this Act concerning payment to creditors from the common or special distribution estate, conditions for the payment of the claim of an

individual creditor are met prior to the maturity of such claim, the debtor in bankruptcy shall have, irrespective of the general rules provided for by the law or a contract concerning the right to the early payment which would apply if the debtor in bankruptcy was not the subject of the initiated bankruptcy proceedings, the right to the early payment of such claim, and thus subtract the relevant interest for the period from the payment until maturity.

(2) When interest on the claim referred to in the first paragraph of this Article until its maturity do not run, the principal of the claim shall be decreased by interest according to the leading interest rate for the period from the payment until maturity.

Article 258

(interruption of limitation of claims)

A limitation of the creditor's claim against the debtor in bankruptcy shall be interrupted by lodgement of such claim in bankruptcy proceedings.

Article 259

(claims, related to the condition on deferral)

If the creditor's claim is related to the condition on deferral, and such condition is not realised until the drawing up of a plan of final distribution, such claim shall terminate.

Article 260

(claims related to resolutory condition)

If the debtor's claim is related to a resolutory condition, and such condition is not realised until the drawing up of a plan of final distribution, such condition shall be considered as non-existent and the claim rendered unconditional.

Article 261

(offsetting of claims at the initiation of bankruptcy proceedings)

(1) If upon the initiation of bankruptcy proceedings there is a coexistence of a claim of an individual creditor against the debtor in bankruptcy and a counterclaim of the debtor in bankruptcy against such creditor, such claims shall be, upon the initiation of bankruptcy proceedings, considered as offset, unless otherwise provided for in Article 263 of this Act.

(2) The first paragraph of this Article shall apply also in respect of non-monetary claims and claims which are not yet due on the initiation of bankruptcy proceedings.

(3) For the claims of creditors and counterclaims of the debtor in bankruptcy which are the subject of the offsetting referred to in the second paragraph of this Article, Articles 253 to 255 of this Act shall apply mutatis mutandis.

(4) The creditor shall not lodge a claim against the debtor in bankruptcy, which terminates as a result of the offsetting under the first paragraph of this Article, in bankruptcy proceedings; however, the creditor shall inform the administrator on the offset within three months following the publication of the notice of the initiation of bankruptcy proceedings.

(5) If the creditor does not inform the administrator of the offset as provided for in the fourth paragraph of this Article, he shall be responsible to the debtor in bankruptcy for any costs and other damages incurred due to the creditor's omission.

Article 262

(offset of conditional claims)

(1) If a claim of the creditor against the debtor in bankruptcy is associated with a condition, the offset referred to in the first paragraph of Article 261 of this Act shall be carried out:

1. upon the request of the creditor that the offset should be carried out, and 2. if the court consents to the carrying out of the offset.

(2) The court may link its consent referred to in point 2 of the first paragraph of this Article to the condition that the creditor provides adequate security for fulfilment of liabilities against the debtor in bankruptcy which terminates on the account of the offset, if until the final distribution the condition of deferral is not realised, or the resolutory condition is realised, which is linked with the creditor’s claim against the debtor in bankruptcy which is the subject of the offset.

Article 263

(unauthorised offsetting of claims upon the initiation of bankruptcy proceedings)

The offsetting of mutual claims referred to in the first paragraph of Article 261 of this Act shall not be permitted:

1. if the creditor has acquired the claim against the debtor in bankruptcy through assignment of the claim within the period as of the beginning of the six months prior to the introduction of bankruptcy proceedings up to the initiation of bankruptcy proceedings, and

2. if when acquiring such claim the creditor was aware of, or should have been aware of, the fact that the debtor was insolvent.

Article 264

(prohibition to offset of claims of a debtor in bankruptcy arising after the initiation of bankruptcy proceedings)

A claim of the creditor against the debtor in bankruptcy which has arose prior to the initiation of bankruptcy proceedings shall not be offset against a counterclaim of the debtor in bankruptcy against such creditor which occurred after the initiation of bankruptcy proceedings.

Subsection 5.3.3: Special rules for mutually unfulfilled bilateral contracts

Outline

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