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Bankruptcy Senate Rejects All Three Bids for Purchase of TAM

Maribor, 2 December - The bankruptcy senate of the Maribor district court decided Wednesday that TAM joint stock company, which is currently under receivership, will not be sold to any of the three bidders who sent their bids to the bid invitation. The senate tasked the trustee in bankruptcy, Mirko Zagar, to examine if it is still possible to sell TAM as a whole. If he fails to sell it as a whole until 1 January 1999, the bankruptcy senate will have to work out a proposal to sell the Tam property in parts.

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