Spectator on facebook

Spectator on facebook

Court approves halt in Tipos restructuring

The restructuring application submitted by national lottery company Tipos has been stopped by the Bratislava I District Court after the court accepted a proposal by the company to withdraw the restructuring request, the TASR newswire reported. The company withdrew its application after the Constitutional Court on May 13 accepted a complaint from Tipos in which the company claimed that its fundamental commercial legal rights had been violated. "Although Tipos was found to be in a state of imminent bankruptcy, recent facts and circumstances in place after the restructuring report was worked out indicate that there's no such threat anymore," said Tipos general manager Miloš Ronec last week.

The restructuring application submitted by national lottery company Tipos has been stopped by the Bratislava I District Court after the court accepted a proposal by the company to withdraw the restructuring request, the TASR newswire reported.

The company withdrew its application after the Constitutional Court on May 13 accepted a complaint from Tipos in which the company claimed that its fundamental commercial legal rights had been violated.

"Although Tipos was found to be in a state of imminent bankruptcy, recent facts and circumstances in place after the restructuring report was worked out indicate that there's no such threat anymore," said Tipos general manager Miloš Ronec last week.

After receiving the restructuring proposal two weeks ago, the Constitutional Court also postponed the execution of a Supreme Court verdict from November 30, 2010 that required Tipos to pay more than €14 million to one of its creditors, a Cypriot-based company called Lemikon Limited, for the unauthorised use of trademarks and know-how.

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

They reported corruption at the Foreign Ministry. Now they receive an award

The tenth year of the White Crow award, celebrating young people and activists who break prejudices and go against the tide.

White Crow award laureates

Blog: Slovakia’s time to shine is now

People may be able to recognise Slovakia’s neighbouring countries through associations with food, drinks, beautiful cities or well-known political events. But Slovakia remains very much "hidden".

Bratislava Castle

The day that changed the Tatra mountains for good Photo

The windstorm damaged 12,000 hectares of woods on November 19, 2004.

Tatras after the 2004 calamity

Smer follows a downward trend but may escape oblivion

What does the defeat in regional elections mean for the future of Slovakia’s strongest party?

“How could it be a fiasco when a political party wins most councillors among all parties?” asks PM Robert Fico.