S & L firms dumping property before bankruptcy

Savings and loans funds Horizont and BMG, whose doors have been closed a month and whose owners are in jail awaiting trial, are quietly disposing of property since no court has yet declared bankruptcy on them. The magazines Lišiak, Profit and TV Komplet have been sold in recent days to the A-HA Public publishing house, co-owned by financier Jozef Majský. The Košice regional court, which is overseeing the cases, explained through court official Ladislav Duditš that a recent holiday by a judge and slow work by the police had prevented the court from approving the bankruptcies even though they have had five motions in their hands for the last week. “We have several hundred bankruptcy motions at the bankruptcy division of Košice regional court, and I don’t see why some should be favoured over others,” said Duditš.

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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