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

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).