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SPP wins promissory note case

THE SPP state gas utility has won a court case with the bankrupt Moravia Banka over Sk210 million in court costs and promissory notes signed in 1998 on SPP's accounts during the reign of murdered ex-SPP Director Ján Ducký.

The Bratislava Regional Court, under Justice Katarína Stránska, agreed with the argument of SPP lawyer Dagmar Valovičová that Moravia Banka had not followed ethical business principles in agreeing to a deal from October 1998 in which the Czech Sezooz Group borrowed 140 million Czech crowns for one year from Moravia Banka using the notes as collateral, and then refused to repay the money.

Moravia's attempts to collect on the notes were rejected by SPP, which proved that the signature on the papers - that of SPP Financial Director Ivan Maroš - had actually been appended in November 1998 and backdated. Maroš had been removed from his job in October 1998.

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