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Bavcar Steps Down; Confirms Istrabenz Insolvent

Koper, 31 March - The supervisory board of the debt-ridden conglomerate Istrabenz accepted CEO Igor Bavcar's resignation during a marathon session that ended after midnight on Tuesday. Bavcar confirmed Istrabenz's insolvency, which gives the company two months to settle its liabilities or else face bankruptcy.

Koper
Outgoing Istrabenz CEO Igor Bavcar at a press conference on the decisions taken at Monday's supervisory board session.
Photo: Daniel Novakovic/STA

Koper
Outgoing Istrabenz CEO Igor Bavcar at a press conference on the decisions taken at Monday's supervisory board session.
Photo: Daniel Novakovic/STA

Koper
Outgoing Istrabenz CEO Igor Bavcar arriving at a press conference on the decisions taken at Monday's supervisory board session.
Photo: Daniel Novakovic/STA

Koper
Outgoing Istrabenz CEO Igor Bavcar at a press conference on the decisions taken at Monday's supervisory board session.
Photo: Daniel Novakovic/STA

Ljubljana
Igor Bavcar steps down as Istrabenz CEO as the conglomerate fails to secure agreement with its creditors.
Photo: Daniel Novakovic/STA

Ljubljana
Igor Bavcar steps down as Istrabenz CEO as the conglomerate fails to secure agreement with its creditors.
Photo: Daniel Novakovic/STA

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