Spectator on facebook

Spectator on facebook

Court blocks proposed restructuring of Tipos

The Bratislava I District Court on Wednesday, April 13, rejected a restructuring proposal by state-owned lottery company Tipos intended to protect it from its creditors. The verdict, which cannot be appealed, was published on April 20 in the Business Journal. It becomes effective one day after publication, i.e. tomorrow.

The Bratislava I District Court on Wednesday, April 13, rejected a restructuring proposal by state-owned lottery company Tipos intended to protect it from its creditors. The verdict, which cannot be appealed, was published on April 20 in the Business Journal. It becomes effective one day after publication, i.e. tomorrow.

Tipos can, however, file another proposal. First reports suggested that the court had ruled in favour of Tipos, but court spokesperson Pavol Adamčiak confirmed that the ruling had been against restructuring, the TASR newswire reported.

Tipos spokesman Rastislav Čépe said that the company’s lawyer was studying the arguments of the district court, which had not at the time been published in the Business Journal. “We will comment on future decisions later,” he concluded.

The ruling could mean that Tipos loses tens of millions of euros to Cyprus-based Lemikon Limited, which claims that Tipos used the know-how of Czech lottery company Sportka illegally. Sportka earlier sold its legal claim to Lemikon Limited. The court in November 2010 decided that Lemikon’s claims were justified and that Tipos must pay it €14.122 million. At the end of March, Tipos filed an application for restructuring.

Source: 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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Police detain another person in promissory notes case

Ex-director of private broadcaster TV Markíza, Pavol Rusko, was detained shortly after being heard.

Pavol Rusko

First 500 jobseekers start training to work in automotive jobs

Neither labour offices nor the automotive industry dare to estimate to what extent the project will be successful.

For a Decent Slovakia organise another protest for June 22

At the same time, they are suing ex-PM Robert Fico, in response to his statements made during the protest rallies in February, citing fear-mongering and defamation.

For a Decent Slovakia represenattives - L-R: Lukáš Füle, Karolína Farská, Juraj Šeliga and Veronika Bruncková - filed a suit against ex-PM Robert Fico June 15.

Construction of the longest tunnel in Slovakia gets complicated

Érsek considers delays in construction of the cross-country highway to be unacceptable.

Western portal of the Višňové tunnel