The Austrian Constitutional Court announced yesterday that the expropriation of the subordinated bond holders is unconstitutional, as it infringes upon »the fundamental right to the protection of property«,therefore the reference to the precarious situation of the
Land of Carinthia cannot be used as an argument... In light of this, the disputable Hypo Reorganization Act (Hypo-Sanierungsgesetz – HaaSanG) dating back to August 2014 was entirely abrogated, the Austrian Constitutional Court has also stated in the notice (www.vfgh.gv.at/cms/vfgh-site/
The PanSlovenian Investors' and Shareholders' Association - VZMD, which lodged an initiative for the constitutional assessment with the Constitutional Court of the Republic of Slovenia as early as in December 2013, also expects from the Slovenian Constitutional Court to finally pass the judgment in the procedure of its "absolutely high priority constitutional judgment" of the contentious amendment of the Banking Act and expropriation of the holders of subordinated bonds and stocks of Slovenian banks in December 2013!
Other Related International Activities:
CONSTITUTIONAL COURT - VZMD also lodged a proposal for the temporary decree for PROHIBITING THE SALE OF Nova KBM bank - to prevent direct damage to the Republic of Slovenia and its citizens
STRESS TESTS – new and obvious proof of the extremely unequal adjudication of Slovenian banks – are they guilty in Brussels or Ljubljana, and what are their motives? The PanSlovenian Shareholders' Association (VZMD) has called on the Bank of Slovenia (BA) and the European Central Bank (ECB) to explain, why only in Slovenia are we left to use »static« and extremely pessimistic assumptions, while in other countries and banks of the EU fresh data and »dynamic« valuations are used and even allow for
Slovenian Constitutional Court acknowledges the legal interest of 293 initiators united by VZMD who demanded a constitutional review of the Banking Act (Ljubljana, January 2013)
WORLD BANK – President of VZMD and EuroFinUse Board Member speaker of the first panel at the international conference about audit reform and the importance of audit committees (Bucharest, June 2013)
INDIA – visit of Slovenian government and business delegation – on the basis of Memorandum between ICPE and VZMD international investors' programs investo.si and investo.international also present (New Delhi, February 2013)
EXCLUSIVE VIDEO REPORT of “International Conference on Benefits and Challenges of Public Private Partnerships for improving Energy Efficiency” – key statements of prominent participants (Ljubljana, October, 2012)
VIDEO REPORT - International Conference at the Brussels Stock Exchange Stimulated Investors' Representatives and Institutions to Participate at the Investors' Week 2012 in September in Slovenia(Brussels, March 2012)
www.vzmd.si – More on the VZMD – PanSlovenian Shareholders' Association
www.vzmd.tv and www.investo.tv – Over 300 videos from VZMD.TV and investo.tv
www.investo.si – More on the investo.si – Invest to Slovenia Program
www.invest-to.net – More on the network of 55 national organizations of shareholders and investors – invest-to.net