September 3 (SeeNews) - Ljubljana District Court said it has launched compulsory settlement proceedings against local publishing company Delo Prodaja upon the request of one of its creditors - Luxemburg-based York Global Finance Offshore BDH.
The proceedings were launched on September 2 and Miha Music was appointed as their manager, the court said in a statement, posted by Delo Prodaja on the website of the Ljubljana bourse on Wednesday.
All creditors face an October 2 deadline to submit with the court a report on their claims against Delo Prodaja.
News portal 24ur.com reported on Wednesday that according to a report by state news agency STA, York Global Finance Offshore had requested the start of the compulsory settlement at the end of July because Delo Prodaja had breached its 2017 financial restructuring agreement and that as the financial claims under the agreement were approaching their due date, the debtor would not be able to pay them.