Spectator on facebook

Spectator on facebook

Slovak Securites Centre avoids bailiffs for now

Slovakia's state Securities Centre, the country's sole securities ownership registration organisation, said on October 16 it had managed to ward off the bailiffs for the time being.
A court ruled that bailiffs could confiscate property after the SCP failed to pay damages of 67 million Sk ($1.9 million) to a little known company, Kierra a.s. which had shares stolen from an account at the SCP.
SCP spokeswoman Erika Mináriková said the centre filed an objection this week against the ruling. She said the SCP would use the time to find money from the state, banks, or on the capital market to pay the damages rather than attempting to have the claim dismissed altogether.

Slovakia's state Securities Centre, the country's sole securities ownership registration organisation, said on October 16 it had managed to ward off the bailiffs for the time being.

A court ruled that bailiffs could confiscate property after the SCP failed to pay damages of 67 million Sk ($1.9 million) to a little known company, Kierra a.s. which had shares stolen from an account at the SCP.

SCP spokeswoman Erika Mináriková said the centre filed an objection this week against the ruling. She said the SCP would use the time to find money from the state, banks, or on the capital market to pay the damages rather than attempting to have the claim dismissed altogether.

The centre said earlier this week it had taken all possible steps to ensure that its work would not be disrupted by the situation.

The SITA news agency reported that Kierra had merged with investment fund IPF 1. Sporitelna-VSŽ Investični Fond a.s., which won a dispute with the SCP over shares stolen from its account several years ago.

SCP says the theft was caused by negligence on the part of a subcontractor but that it could only seek damages from the subcontractor after it settles the claim. The SCP is the country's monopoly registration place for trading in securities, which are nearly all in book-entry form.

Top stories

Bratislava growing high Photo

High-rise buildings sprouting up in Bratislava

Visualisation of the future skyline of Bratislava

People of Pezinok fighting against landfill again

Dispute over controversial Pezinok waste dump, which started 18 years ago, continues.

The controversial landfill site in Pezinok

Crisis ends in Danko’s defeat

Education minister steps down following Fico’s call, Danko not ruling out he might leave politics.

Former education minister Peter Plavčan and PM Robert Fico on July 24.

First Slovak woman crossed the English Channel

Before her, only six Slovak men had managed to complete the difficult swim.