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State wins another suit in Transpetrol case

The District Court Košice II ruled in favour of the Economy Ministry in the 2006 case alleging that companies and businesspeople connected with Ignác Ilčišin allegedly acquired the shares of the Transpetrol company back in 1998 during bankruptcy proceedings are invalid.

The District Court Košice II ruled in favour of the Economy Ministry in the 2006 case alleging that companies and businesspeople connected with Ignác Ilčišin allegedly acquired the shares of the Transpetrol company back in 1998 during bankruptcy proceedings are invalid.

“Košice first-instance court confirmed the total ineffectiveness of the distraint-order transfer of the Transpetrol shares which could have been in 1998 exclusively owned by the state,” Economy Ministry spokesman Stanislav Jurikovič told the TASR newswire. “Although appeals of alleged Transpetrol shareholders can be expected, the ministry believes that the Regional Court Košice will confirm the lower-instance verdict.”

“This is another important ruling in the case of transfer of Transpetrol’s 34 percent stake,” Economy Minister Tomáš Malatinský said. “It means further step towards successful conclusion of other disputes in which people connected to Ignác Ilčišin request various shareholder rights.”

The verdict was announced September 25. Transpetrol, a. s., oversees the transit and domestic transport of oil through Slovakia’s territory via the Družba oil-pipeline. The state, represented by the Economy Ministry, owns 100 percent of the firm.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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