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Quick Power Plant claims third of Transpetrol shares

At another extraordinary shareholders’ meeting of oil-pipeline operator Transpetrol, a company named Quick Power Plant claimed to be the new owner of a 34-percent stake in the company, which it says it purchased last month from entrepreneur Ignác Ilčišin.

At another extraordinary shareholders’ meeting of oil-pipeline operator Transpetrol, a company named Quick Power Plant claimed to be the new owner of a 34-percent stake in the company, which it says it purchased last month from entrepreneur Ignác Ilčišin.

“Quick Power Plant is a company set up to retain this stake... If this isn’t possible in Slovak courts and the disputes continue, we’ll resort to arbitration,” said the chairman of Quick Power Plant’s board of directors, Milan Kožíšek. Ilčišin confirmed to the TASR newswire that the Transpetrol shares had been sold to the company.

The state, which manages its shareholdings via the Economy Ministry, doesn’t recognise Ilčišin’s original claim to the 34-percent stake, however. After buying back a 49-percent stake in Transpetrol from Yukos International earlier this year the state now claims to own 100 percent of Transpetrol’s shares.

Ilčišin called an earlier Transpetrol shareholders’ meeting on April 29 with the approval of the Bratislava I District Court. Economy Minister Ľubomír Jahnátek called the meeting a farce, as its proceedings were subject to a Supreme Court injunction pending the final verdict on an appeal against the District Court’s approval. On May 20, the Supreme Court declared the District Court's decision to allow the meeting called by Ilčišin invalid. 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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