State-run company loses to Penta, has to pay €26 million

THE STATE-RUN heat distribution company Bratislavská Teplárenská (BTS), which made a profit of less than €200,000 last year, will have to pay €26 million to the Penta financial group after losing a 12-year-old dispute on June 30.

THE STATE-RUN heat distribution company Bratislavská Teplárenská (BTS), which made a profit of less than €200,000 last year, will have to pay €26 million to the Penta financial group after losing a 12-year-old dispute on June 30.

The dispute revolved around the question of whether the company was required to buy heat from Paroplynový Cyklus (Steam-Gas Cycle), owned by Penta until about two months ago, the Sme daily reported. BTS had a contract to purchase heat from Paroplynový Cyklus. When the contract expired last year, Paroplynový Cyklus found itself without anyone to sell its heat production to. The dispute ended unfavourably for BTS, when it was ruled that the company did not purchase as much heat from Penta as it was supposed to.

It is clear now that the company will not be able to raise the €26 million from its own business activities, Sme writes, suggesting that the state might want to sell BTS. If the state fails to pay the bill, the company would file for bankruptcy, which would be controlled mainly by Penta as the majority creditor.

Source: Sme

Compiled by Michaela Terenzani from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.

Get daily Slovak news directly to your inbox

Top stories

News digest: Health care staff still lacking, president asks for amends

Slovakia is preparing to launch the nationwide testing on Saturday morning, but the government admitted they still need hundreds of health care staff. Kotleba violates quarantine and hospitals in the north are full.

The Bratislava Self-Governing Region started testing its staff on October 30.

Testing is impossible to carry out as planned, president says

President Zuzana Čaputová asked the government to reconsider measures for people who do not get tested, many will not get a chance.

President Zuzana Čaputová met with the representatives of the armed forces.

The big test is upon us. What are we to do?

For a foreigner living in Slovakia, there is yet another concern.

Health care professionals still lacking ahead of Saturday's testing

Government avoids mobilisation for now, PM offers an extra bonus to health care professionals who can serve the whole weekend.

Dolný Kubín