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Court to start bankruptcy proceedings

THE BRATISLAVA I District Court is set to begin bankruptcy proceedings for the Slovenské Aerolínie (SA) airline.

Court President Gabriela Buľubašová said that the decision would take effect the day it is published in the Commercial Bulletin. The court will then have five days to declare the company bankrupt and appoint a receiver of assets in bankruptcy. The receiver will be selected randomly by computer from a list of 53 receivers registered with the Justice Ministry for the Bratislava I District Court.

Slovenské Aerolínie filed for bankruptcy on March 2. At the end of January, the Slovak national carrier cancelled all its regular flights from Bratislava to Brussels and Moscow. The company's majority shareholder, Austrian Airlines (AUA), took back the two planes it had made available to the Slovak airline company.

The Austrian company says it halted operations in SA because the Slovak government has been reluctant to pay Sk171 million (€4.9 million) in "hidden liabilities."

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