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Outcry against Devín banka profiteering

The Justice Ministry says it is powerless to challenge a court decision September 28 awarding the post of bankruptcy trustee on the failed Devín banka financial house to lawyer Ernest Valko one day before a new bankruptcy rule was to substantially cut the fees trustees earn. Finance Minister Brigita Schmognerová has estimated that Valko stands to earn 500 to 600 million crowns ($10 to $12 million) on the bank case if he recovers 5 to 6 billion crowns for creditors; had Bratislava regional court judge Eugen Palásthy waited one more day before awarding the post, Valko would have had his earnings capped at 10 million crowns. Valko called the minister’s estimate “inflated”, and said neither he nor the judge had known the rules were due to change.

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

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