Slovenia's 'bad bank' extends deadline for sale of claims against IPL

The deadline has been extended to November 2 from September 25 previously, DUTB said in a statement.

DUTB intends to sell off its entire portfolio of claims held against IPL, including accrued court fees, interest and accessory rights.

IPL was established in 2001. When the global financial crisis hit the construction sector in Slovenia, the company's revenues decreased and it was unable to repay its debt. In 2014, DUTB become its major creditor with the transfer of assets from Slovenian banks.

DUTB was established in March 2013 as a state-owned company with the aim of facilitating the restructuring of Slovenian banks facing severe solvency and liquidity problems.

($=0.841815 euro)