SPP must pay 400 million Czech crowns for 1990s promissory note

According to a decision by the Bratislava Regional Court on Tuesday, April 28, Slovak gas utility Slovenský Plynárenský Priemysel (SPP) will have to pay 400 million Czech crowns (€14.94 million) to Czech company DRAFT-OVA because of a promissory note signed by a murdered former chief executive.

According to a decision by the Bratislava Regional Court on Tuesday, April 28, Slovak gas utility Slovenský Plynárenský Priemysel (SPP) will have to pay 400 million Czech crowns (€14.94 million) to Czech company DRAFT-OVA because of a promissory note signed by a murdered former chief executive.

The note is one of several documents known as ‘Ducký’s promissory notes’. Ján Ducký, the former general director of SPP and a former economy minister, was murdered on January 11, 1999. Ducký allegedly issued 24 controversial promissory notes while head of SPP, including 12 in Slovak crowns, and another 12 in the Czech currency.

In its current ruling, the regional court confirmed a decision handed down by the Bratislava V District Court in May 2007, which declared the promissory note valid, Bratislava Regional Court spokesman Pavol Adamčiak told the TASR newswire on April 28.

According to Adamčiak, the reason for the court's decision - which is final - was the fact that the Czech company bought the promissory note in good faith, and there is no proof that the company deliberately acted in order to damage SPP.

SPP considers all ‘Ducký’s promissory notes’ to be fraudulent, SPP spokesman Ľubomír Tuchscher said in reaction to the court's ruling. “Our stance concerning Ducký’s promissory notes remains unchanged,” he said. 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.

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