ELAN sold to its creditors for 31 million 800 thousand DEM
Kranj, 28 November - The court of Kranj staged the third auction for the sale of the ELAN enterprise. There were two possible buyers - three banks (Ljubljanska banka d.d., Gorenjska banka and Stanovanjska banka) representing one party and the enterprise Komel d.o.o. representing the other one. The latter was acting on behalf of the former ELAN creditors that alloted to it their shares in the total debt of ELAN. The representative of the banks, Mr. Jože Kristan, objected to Komel d.o.o. taking part at the auction but was reprimanded by Mr. Igor Triller, the perfunctory menager of ELAN. The auction lasted more than an hour, starting at 22.5 millions DEM and went all the way to the final bid of 31.8 million DEM. This was the last offer made by Komel d.o.o. and was not topped, thus Mr. Triller proclaimed ELAN as sold.