The management wants to use EUR 52.83m to pay for the EUR 35.5m in loss carried over from last year and the EUR 17.33m in loss generated so far this year.

Under the management's proposal, which is in line with the company's restructuring plan, creditors would get one share for each euro of debt.

The debt-to-equity conversion proposal entails conversion of claims toward the group by the Bank Asset Management Corporation (BAMC; a total of EUR 56.9m transferred from NLB, NKBM, Banka Celje and LHB Franfurt).

The list of claims up for conversion also entails EUR 57.3m by the SID export and development bank, EUR 40.6m by Banka Celje and EUR 37.9m of claims by Gorenjska banka, as well as EUR 35.3m by Abanka, EUR 25.3m by NLB and EUR 22.2m by NKBM.

The list moreover shows that some of the loans were guaranteed with a total of EUR 88.6m state guarantees.

The document shows that Cimos subsidiaries owe EUR 11m to the International Finance Corporation, a member of the World Bank, EUR 7.1m to Belgrade-based Banka Intesa, EUR 1.3m to NLB Tuzlanska banka and EUR 2m to NLB Banka in Belgrade.

Cimos, which employs 7,000 workers, declared insolvency in early March. The business daily Finance has reported that the group's outstanding financial debt was about EUR 400m, of which EUR 350m was to Slovenian creditors.

TV Slovenija reported in March that Cimos, one of the few companies that boast revenue growth in what is a troubled period for the car industry, allegedly had work secured for the coming seven years, but that it recorded a loss of more than EUR 130m last year.

Cimos received a state guarantee worth EUR 35m in mid-2013 in an effort to save thousands of jobs in Slovenia.