The company, which has been in receivership since 2 April, is being sold in a package with all its assets and the Radeče Papir trade mark, and a possible buyer would also take on all the company's rights and obligations.

The court-estimated market value of the company's property is EUR 14.7m for the real estate and EUR 22m for all other assets.

The receiver has reserved the right not to sell the company to the best bidder.

The Radeče town council decided in April to set up a company to continue the production of white paper on one of the company's production lines.

Radeče Papir has meanwhile also had several visits over the last few weeks from French technology company Oberthur Technologies, which is interested in the production line of special paper that can be used for printing money.

The paper maker's redundant workers received compensations on Thursday for the unpaid wages, unused annual leave and severance pay. Around EUR 708,000 was distributed among 241 workers.