SLKB guarantee invalid

THE OFFICE for State Aid (USP) have declared that the guarantee of DEM29.37 million to the troubled SLKB shipyard by the Finance Ministry is invalid.

SLKB, the successor of the bankrupted shipyard SLK Komárno received the loan guaranteed by the ministry from the export-import bank Eximbanka in the first quarter of the last year.

According to USP, the Finance Ministry violated the Law on State Aid which said that only USP can provide a loan guarantee.

Both the Finance Ministry and SLKB said they would appeal against the decision.

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