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Government will not compensate S & L victims

Cabinet has decided not to compensate Slovaks – according to Deputy PM Ivan Mikloš “five percent of the population”, or 265,000 people - who lost money in the spectacular crash of several savings and loans funds last month. Meanwhile, the Košice regional court declared bankruptcy on the BMG and Horizont firms, allowing a bankruptcy trustee to step in and stop owners from selling off lucrative assets. Last week the S & L firms sold off three popular magazines, assets which now cannot be used to repay clients.

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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