RESTRUCTURING WITH SPIN-OFF IN THE CASE OF COMPANY X

Družbe se odločajo za postopek prestrukturiranja z izčlenitvijo iz različnih razlogov. Najpogosteje so ti razlogi krepitev fokusa poslovne strategije, del načrta združitve/prevzema, izboljšanje pretoka informacij in pridobitev boljšega dostopa do kapitalskih trgov ali pa zaradi upoštevanja direktiv kot v našem primeru družba X. Veliko je takšnih družb, ki se za postopek prestrukturiranja z izčlenitvijo odločijo zaradi kratkoročne in dolgoročne plačilne nesposobnosti. V teoretičnem delu magistrskega dela smo najprej opredelili krizo družb in njene značilnosti. Krizo smo opredelili in predstavili njene vrste, simptome in opozorilna znamenja krize na katera morajo biti družbe in njihovi nadrejeni pozorni, da bi jih lahko pravočasno zaznali in pravilno ukrepali. Nadalje smo predstavili pravni vidik izčlenitve in primerjavo med slovensko zakonodajo in zakonodajo Evropske unije na področju izčlenitve. V nadaljevanju teoretičnega dela smo predstavili metodo prestrukturiranja. Opredelili smo koncept prestrukturiranja in vlogo, predstavili načrt finančnega prestrukturiranja in opisali kaj vse je potrebno za učinkovito izvedbo prenove podjetja s postopkom prestrukturiranja. Predstavili smo vsebino izčlenitvenega postopka. V empiričnem delu smo predstavili in proučili postopek prestrukturiranja z izčlenitvijo na primeru družbe X, d.d. Družbo smo predstavili in opredelili pojem družbe. Opisali smo razloge za spreminjanje organizacije, vrste sprememb v njej in zaporedje dogodkov pred nastopom krize. Prestrukturiranje z izčlenitvijo smo na praktičnem primeru proučili, predstavili vzroke za izčlenitev družbe, zapisali pozitivne posledice le tega in predstavili izčlenjeno družbo- podjetje XY, d.o.o. V empiričnem delu smo primerjali postopek izčlenitve v Sloveniji, Evropski uniji in na Kitajskem. Zapisali smo temeljne razlike in podobnosti v postopku izčlenitve med njimi. Ugotovili smo, da je postopek izčlenitve postopek, ki se uporablja tako v Sloveniji, v Evropski uniji in tudi na Kitajskem. Postopka se je potrebno lotiti zelo skrbno in natančno, saj je analiza in skrbna priprava gradiva vpliva na uspešnost postopka. Za družbo postopek prestrukturiranja z izčlenitvijo predstavlja pomembno prelomnico v njegovem poslovanju in pomembno vpliva na poslovanje družbe in njen nadaljnji obstoj.The company decided to process the restructuring with spin-off from a variety of reasons. Most of these reasons strengthen the focus of the business strategy, part of the plan of merger/acquisition, improving the flow of information and obtain better access to capital markets or due to the compliance with the directives as in our case company X. There is a lot of such companies which decide for the restructuring process with spin-off due to the short-term and long-term insolvency. In the theoretical part of master thesis, we first identified the crisis of the companies and its features. Crisis, we have prepared and presented its types, the symptoms and warning signs of a crisis which must be companies and their parent attention, that they could be timely detected and properly addressed. We further present the legal aspect of the spin-off and comparison between Slovenian legislation and legislation of the European Union in the field of spin-off. In the following theoretical part we present a method of restructuring. We have identify the concept of restructuring and the role of the present plan of financial restructuring and describe what all is necessary for the efficient execution of the renovation of the company with the procedure of restructuring. We introduced a content spin-off procedure. In empirical part we have presented and examined the restructuring process, with spin-off in the case of company X, d. d. Society, we introduced and defined the concept of society. We have outlined the reasons for changing the organization, the kinds of changes in it and the sequence of events before the onset of the crisis. We have investigate the restructuring with spin-off on the practical case, present the causes for spin-off of the company, write down the positive consequences of this and present spin-off company - company XY, d.o.o. In empirical part we have compared the procedure restructuring with spin-off in Slovenia, the European Union and China. We wrote down fundamental differences and similarities in the process of spin-off between them. We have found that the process restructuring with spin-off is used both in Slovenia and in the European Union and also in China. The process must be approached very carefully and accurately, since the analysis and the careful preparation of the material affect the performance of the procedure. For the company the restructuring process with spin-off represents an important turning point in his business and has a significant impact on the operations of the company and its continued existence