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Creditors of Avtomontaza Claim SIT 11 Billion

Ljubljana, 10 May - COMPANIES/BANKRUPTCY
The creditors of the bankrupt vehicle constructor Avtomontaza filed 208 claims for SIT 10.978 billion (54 million euros) within the time limits given and SIT 8.442 billion of those were recognised. According to the official receiver, Stefan Veren, between SIT 5 and 6 billion could be raised by realising the bankrupt mass. After repaying those creditors that get preferential treatment, the other creditors will get 20 percent of the claims repaid. As Veren said, there is a possibility to continue manufacturing buses in the factory. The idea is advocated by former senior officials of the company, who have started negotiations with the Slovene Development Corporation (SRD) to set up a "new" Avtomontaza.

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