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SPP accounts blocked

A court trustee has blocked Sk3.6 billion ($82 million) on the accounts of the SPP state gas utility in connection with an unresolved suit between the firm and the Czech Union Banka regarding Sk600 million in unpaid SPP promissory notes held by Union.

The notes were among those issued fraudulently on SPP’s accounts by former company head Ján Ducký shortly before he was murdered in January 1999.

SPP has said the trustee acted illegally and should only have been able to block funds corresponding to the amount in dispute.

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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