Consent to convert claims to Slovenian stockings maker into equity

The Slovenian government has given consent to convert €923,000 (US$1.1m) in claims to stockings maker Polzela into equity, which will make the state a 27% owner of the struggling company.

Also ready to participate in the capital increase of Polzela, which recorded a loss of €3.9m (US$4.5m) and has been in court-mandated debt restructuring since March 2014, is the Bank Asset Management Company (BAMC).

BAMC is ready to convert 22% of the entire claims, however, only on condition that all other creditor banks, many of which are state-owned, decide to participate, the government said.

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