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Tuesday's auction saw the bankruptcy received attempt to sell all ATC Kanin real estate for EUR 1.14m; when that failed it split up the assets, to no avail.

The Russian company, Ilev Inženiring, was the only bidder in the first auction in July as well.

The bankruptcy administrator, Nataša Gibičar, said she would now try to sell the assets via a call for bids, but noted that the winter season was already lost.

The mayor of nearby Bovec Valter Mlekuž said the municipality, which depended on Kanin for a significant chunk of tourism revenue, would try to find a solution.

At one of the next sessions the local council will debate potentially buying the assets, he said.

The Kanin ski centre has never been fully completed and has been battling financial problems ever since it opened 40 years ago.

It took a big hit in the 2012/2013 season when two empty cable cars plunged to the ground in an accident that was blamed on gusts of wind.

The ski slopes have been shut down since and the company filed for bankruptcy in mid-2013, since then infrastructure on the mountain has been decaying rapidly.

It has been suggested that the assets should be given away for free just to attract what is estimated to be at least ten million euros.

Ironically, Kanin, the highest ski resort in the country, is one of only two or three resorts in Slovenia that have had enough snow in recent years, while resorts at lower altitudes have been struggling.