Information for investors of Moja delnica BPH d. d. - Payments of guaranteed claims

On the day of the initiation of bankruptcy proceedings against the investment firm Moja delnica BPH d. d. (11 July 2016), the Bank of Slovenia assumed the obligation to pay the guaranteed claims of the investment firm in bankruptcy in accordance with Article 466 of the Financial Instruments Market Act (hereinafter: the ZTFI).

In accordance with the ZTFI, the guaranteed claims of an investor comprise the total stock of all the investor’s claims against the investment firm from investment services minus the investor’s liabilities, whereby the amount covered by the guarantee is limited to a maximum of EUR 22,000. The calculation of an investor’s guaranteed claim does not take account of the investor’s claims for the delivery of financial instruments or cash for which the investor can exercise secured creditor’s rights in bankruptcy proceedings (more information below).

The stock of guaranteed claims was determined by the official receiver of the investment firm Moja delnica BPH d.d. (in bankruptcy) and by Nova Ljubljanska banka d.d. (NLB d.d.), which was appointed to perform the tasks of the successor bank by the Bank of Slovenia in accordance with the second paragraph of Article 466 of the ZTFI. The stock of guaranteed claims is derived from the register of guaranteed claims, which encompasses an inventory of investors’ claims and liabilities, and a calculation of the guaranteed claims for each investor. The register was approved by the Securities Market Agency, which also reviewed and approved the amounts of the guaranteed claims, and by the Bank of Slovenia, which submitted the approved register to the bankruptcy court in accordance with Article 326 of the ZBan-1 and Article 160 of the ZTFI.

The payment of investors’ guaranteed claims will be undertaken by NLB d.d. Investors will be able to exercise the payment of guaranteed claims at the bank as of 8 August inclusive.

NLB d.d. will contact investors entitled to the payment of guaranteed claims in the coming days, with details of how to exercise the right to payment of guaranteed claims. The message will also provide information on the NLB d.d. branches at which investors can exercise the right to payment, and on the documents that investors will have to produce before payment is made.

The guaranteed claims of investors who fail to exercise the right to payment within two months of the beginning of the guaranteed claims repayment process will be converted into sight deposits at NLB d.d. in accordance with Article 326 of the ZBan-1 in connection with Article 160 of the ZTFI.

Irrespective of their amount, and therefore even if they exceed the amount covered by the guarantee (EUR 22,000), all claims included in the register of guaranteed claims were automatically registered in the bankruptcy proceedings on 1 August 2016, when the Bank of Slovenia submitted the approved register of guaranteed claims to the bankruptcy court. In the bankruptcy proceedings investors must nevertheless request the segregation of (register secured creditor’s rights on) assets that Moja delnica BPH d.d. had at its disposal for the account of investors as at the day of the initiation of bankruptcy. A notice of the amount of such assets will be sent to investors by Moja delnica BPH d.d. (in bankruptcy).

Investors may obtain further information on the exercise of investors’ claims within the framework of the bankruptcy proceedings against Moja delnica BPH d.d. (in bankruptcy) from the official receiver, Mr Mihael Bakovnik, who can be contracted by phone (+386 4 2536320) or email (bakovnik@gmail.com).