Spectator on facebook

Spectator on facebook

Slovakia summonsed over Transpetrol share purchase from Yukos

Slovakia has been summonsed by a Dutch court over its purchase of a 49-percent stake in national oil pipeline operator Transpetrol. Representatives of the Yukos International, the rump of a now-defunct Russian oil giant, from which Slovakia purchased the shares in 2009, asked the Amsterdam District Court in late 2011 to order ABN Amro Bank N.V. to unfreeze and transfer Slovakia’s payment of USD240 million to its account, the SITA newswire reported on Wednesday, January 18.

Slovakia has been summonsed by a Dutch court over its purchase of a 49-percent stake in national oil pipeline operator Transpetrol. Representatives of the Yukos International, the rump of a now-defunct Russian oil giant, from which Slovakia purchased the shares in 2009, asked the Amsterdam District Court in late 2011 to order ABN Amro Bank N.V. to unfreeze and transfer Slovakia’s payment of USD240 million to its account, the SITA newswire reported on Wednesday, January 18.

Slovakia transferred the payment to an escrow account pending the settlement of court disputes. Representatives of Yukos International are also asking the court to order Slovakia to recognise its right to dispose of the purchase sum, on pain of a €10-million fine.

Economy Minister Juraj Miškov said, as quoted by the Sme daily, that the Transpetrol shares are firmly in the hands of the state and that it is now necessary to transfer the funds to the seller of the shares. The minister stated that the money for the 49-percent share package was being kept in accounts at the ABN Amro bank but have not been paid to Yukos yet because Yukos has a legal dispute with ABN Amro. A final verdict in the case is expected to be delivered by the end of January, Sme wrote.

Sources: SITA, Sme

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

EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

Vote-buying scandal lands village mayor in court

Some Roma claiming the mayor of Gemerská Poloma, Miroslav Michalka was buying votes, have changed their testimonies.

Stanislav Kučerák (blue shirt) is a key witness in the vote-buying case.

Police president refuses the proposals of students

He turned down their suggestions for a public debate but invites them to talk about corruption at the Police Corps Presidium.

Police President Tibor Gašpar

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.