The Master's thesis presents a critical review of the manner in which the banks’ recovery in The Republic of Slovenia were carried out, foremost, the lawfulness and constitutionality of the measure of the cessation of the qualifying liabilities. In this sense we can see as the controversial review of the capital deficit in the banks, since the Asset Quality Review was based on the input data and assumptions, which have been very insufficiently presented to the public, while at the same time The Bank of Slovenia negotiated with the asset valuers about which method should be used. Some claims have not been taken into consideration in the assessment of the banks’ capital shortfall, which significantly influenced the amount of negative capital ascertained. The execution of the Asset Quality Review was followed by the stress tests, which were based on an extremely strict hypothetical macroeconomic scenario, which anticipated difficult variables regarding economic activities, prices of the real assets and employment, such as haven’t been introduced since the beginning of Slovenia’s existence. The carrying out of the assumed scenario was on the fringe of possibility and was not realised. Even though the Constitutional Court agreed with the constitutionality of the amount of the qualified liabilities in a way where their amount was assessed with the assumption of a non-functional company, this assumption is recognised as unsuitable in the Master’s thesis. The other creditors namely stayed privileged and at the same time the holders of the qualifying liabilities did not have rights, ascertained by the bankruptcy legislation. According to one of the studies, if the banks’ Asset Quality Review and qualifying liabilities had been performed properly, the holders of the qualifying liabilities at NLB and Banka Celje would have been compensated entirely and in NKBM and Abanka at least partially.
The stated are key reasons for the existence of doubt regarding the regularity of the procedures of the qualifying obligations’ cessation and a basis for all the further findings in this Master’s thesis.