Spectator on facebook

Spectator on facebook

Prima Banka to pay millions to Cyprus

THE BIGGEST dispute between private companies in the history of Slovakia over €162 million ended with an out-of-court agreement.

Prima banka, illustrative stock photo(Source: SME)

Based on the deal, Prima Banka will pay €25 million to Cyprus-based Tredar Investments, the Hospodárske Noviny daily reported in its June 3 issue.

The dispute dates back to 2008 when the bankers of then Dexia bank allegedly spoiled the big foreign exchange business between Poprad-based company Ritro Finance and South African currency rand. The company sued Dexia in 2009 and claimed €162 million from it.

During the years the participants in the dispute changed. In 2010 the Penta financial group bought Dexia and changed its name to Prima Banka. Also the ownership of the €162-million claim changed hands several times and finally ended at Tredar Investments from Nicosia, Cyprus, Hospodárske Noviny wrote.

The new owner of the bank, Penta, kept refusing the complaint, calling it fabricated. However, it finally agreed on paying about one-sixth of the claimed amount.

“We do not consider the issue topical and we do not have any information about it that we could provide to you,” Prima Banka’s spokesperson Eva Čonková told Hospodárske Noviny.

Disclaimer: Penta financial group has a 45-share in Petit Press, the co-owner of The Slovak Spectator.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Kia kicks off production of the new ProCeed model Photo

More than 300 workers participated in the training held at a Korean research centre.

How does Slovakia support innovations?

Companies operating in Slovakia can benefit from state subsidies, EU resources and venture capital funds.

Science in Slovakia is underfunded, lagging behind other European countries.

How to elect your mayor

When you live in a small village, you don't care about Bratislava. At home, everything is at stake.

Blog: Slovak author wants to be the embodiment of happiness

Andrej Krupa, author of ‘Hlava 20, is using his experience abroad to spread positivity in Slovakia.

Andrej Krupa