Spectator on facebook

Spectator on facebook

Sale of Slovenské Aerolínie assets moving slowly

A three-member creditor committee for Slovenské Aerolínie, the bankrupt and highly-indebted airline company, recommended that new official receiver Vladimír Neuschl start preliminary negotiations with parties that are interested in buying specific sets of the company's assets.

The committee is expected to discuss terms of sale for these assets, as well as the date it will announce the second round of public bidding according to the sale plan that was approved, at its next meeting.

The second round will depend on the talks and the sum of potential proceeds for all unsecured creditors and a separate creditor, according to the committee’s last meeting on October 26. The airline offered 10 sets of assets in the first public bid, but no bids were received by the deadline of September 20.

The committee recommended the receiver carry out activities related to inspecting and protecting the company’s assets, making sure the company’s debts are still collected from trade partners, and managing the company's assets.

Neuschl was elected new official receiver of assets at the creditor meeting on October 5 of this year.

Members of the creditor committee, representing Austrian companies Austrian Airlines, Erste Bank and Tyrolean Airways, took over the asset sale plan from Slovenské Aerolínie's former official receiver, Ivan Klementis.

The three-member creditor committee was elected at the first meeting of Slovenské Aerolínie creditors in early July. Fourteen creditors of the bankrupt airline were present at the first meeting and 12 of them also had voting rights.

-SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

How did Communism happen in Czechoslovakia?

For the 40 years, Czechs and Slovaks would celebrate February 25 as Victorious February, even though the enthusiasm of most of those who supported Communists in 1948 would very quickly evaporate.

Prime Minister Klement Gottwald (right) swears an oath into the hands of President Edvard Benes on February 27, 1948 at the Prague Castle.

Cemetery with a remarkable creative concept Photo

The shapes of tombstones were prescribed until 1997

Vrakuňa Cemetery in Bratislava

Being young is harder than it used to be

The failure of older generations to sympathise with youth means politics are primarily a contest of who can hand out more gifts to old people.

Young Slovaks have problems finding proper jobs.

Historian: After 1948, Czechoslovakia was paralysed with fear

On February 25, Czechs and Slovaks mark 70 years since the rise of Communism in their common state. Historian Jan Pešek talks about the coup and its aftermath.

Demonstration in Prague, Wenceslas' Square, on February 28, 1948.