Cyprus-based company Lemikon Ltd. has withdrawn from its agreement with Slovakia's state-owned lottery company Tipos, Czech journalist Miroslav Motejlek wrote on his website, Motejlek.com, on December 8.
Lemikon decided to withdraw after Tipos failed to pay the remaining Sk1.5 billion (€50 million) of its debt by November 30. Tipos agreed to pay compensation totalling Sk1.9 billion (€63.3 million) by that date after the Slovak Supreme Court ruled that it had stolen the know-how of Czech betting company Športka.
The lawsuit was brought by Radovan Vitek, the owner of Lemikon, which bought the debt from Športka some time ago. Motejlek, who has been following Vitek's business activities for several years, reports that Lemikon extended the deadline by another four days, but still didn't receive payment.
Lemikon may now require Tipos to pay a Sk400 million (€13.3-million) fine for failing to pay off the debt on time. TASR
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
9. Dec 2008 at 7:00