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Slovak lotto granted protection

Tipos , the Slovakian National Lottery company, has been granted temporary protection from its creditors from a Bratislava I District Court.

The company is involved in a legal dispute with a Cypriot company, Lemikon Limited , who won a suit filed against Tipos for using the "know-how" of the Czech Športka company.

The court has ordered temporary protection to Tipos for 30 days while it mulls over a restructuring programme provided by an experienced restructuring administrator.

Should the court approve the restructuring proposal, an administrator will be appointed otherwise the company will be forced to file for bankruptcy.

A previous attempt at filing for approval to undergo restructuring was denied by the court because of procedural errors.

Source: InfoPowa News

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