Spectator on facebook

Spectator on facebook

Tipos withdraws its restructuring proposal from court

The management of Slovakia’s national lottery company, Tipos, decided to withdraw the restructuring proposal it submitted to Bratislava I District Court earlier this month, the TASR reported, based on information from Tipos spokesman Rastislav Čépe on May 18.

The management of Slovakia’s national lottery company, Tipos, decided to withdraw the restructuring proposal it submitted to Bratislava I District Court earlier this month, the TASR reported, based on information from Tipos spokesman Rastislav Čépe on May 18.

That decision came after the Constitutional Court on May 13 accepted a motion from Tipos in which the company claimed that its fundamental commercial law rights had been violated.

"Although Tipos has been found to be in a state of imminent bankruptcy, based on the recent facts and circumstances in place after the restructuring report has been worked out, there's no such threat anymore," explained Tipos general manager Miloš Ronec.

After receiving the proposal last week, the Constitutional Court postponed the execution of a Supreme Court verdict from November 30, 2010 that Tipos should pay more than €14 million to one of its creditors, a Cypriot-based company called Lemikon Limited, due to unauthorised use of a trademark.

Tipos had been seeking restructuring to gain protection from its creditors whose claims it says are bogus.

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.

Top stories

Sagan rewrites history Video

Cyclist Peter Sagan becomes the first man to win three consecutive world championships.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness