TFL Vsebine / Revija Pravnik

3

Avtor v prispevku kritično analizira neuspešen poskus spremembe slovenske korporacijske zakonodaje na področju standarda skrbnosti članov organov vodenja in nadzora, pri čemer kratko prikaže, kako in v kakšni obliki je predlagatelj novele ZGD-1I želel uzakoniti pravilo poslovne presoje (angl. busi ness judgment rule), v nadaljevanju pa se osredotoči na podroben oris razvoja pravila v svojem izvornem okolju (Združene države Amerike). Ugotavlja, da je pravilo daleč od popolne pojmovne izčiščenosti, ter da se njegov vsebinski razvoj še nadaljuje. Prikaže diametralno nasprotne dojemanja instituta business judgment rule in se nato utemeljene sprašuje o smiselnosti njegove nepremišljene in slabo argumentirane uzakonitve v slovenskem korporacijskem pravu. Avtor izraža bojazen, da bi lahko uvajanje pravila poslovne presoje v obliki in na način, ki ga je izbral predlagatelj novele ZGD-1I nevarno znižati v Sloveniji že tako nizko raven generalnopreventivnega učinkovanja grožnje s sankcijo odškodnine za protipravno ravnanje članov organov vodenja in nadzora v delniških družbah.

The paper critically examines the unsuccessful attempts to amend the corporate legislation in Slovenia in the ambit of managers’ duty to care. The author then sketches out the amendment proponents’ perception of the business judgment rule and the method and manner that were used in the attempt to codify it. The main thrust of the article is dedicated to the analysis of the development of the business judgment rule doctrine in the United States (its birthplace), whereby the author determines that (a) the doctrine’s development is still ongoing and (b) there is no single uniform interpretation of the its meaning, both mainly due to the highly diverging perceptions of its ambit and reach by the Delaware courts. These facts are then used to question the validity of a somewhat sophistic and hasty enactment of the doctrine in Slovenia, which could lower an already dangerously low level of general deterrence function of damages for illegal directors’ acts.

Potential Pitfalls of the Enactment of the Business Judgment Rule Doctrine in Slovenia