Slovak News Back to the news
Acknowledged Claims of SkyEurope's Creditors Reaches €123 million
Monday 01 March 2010 Zoom in | Print page
Bratislava, March 1 (TASR) - Creditors of bankrupt Slovakia-based SkyEurope Airlines met for their first meeting in Bratislava on Monday.
Of the total of 3,400 creditors, around 70 registered themselves at the meeting. The total amount of acknowledged financial claims has reached €123 million, with unacknowledged claims totalling €57 million. The property that remained when the low-cost airline went bust at the end of August 2009 has been quantified at only €5.7 million, however.
"The value of the property may not be realistic and may fall, as a company called E-Clear, on which SkyEurope had a claim, has declared bankruptcy," SkyEurope bankruptcy trustee Lubomir Bugan told TASR.
According to Juraj Bizon from solicitor's office Bizon & Partners, which is among the creditors, the trustee has to pay the airline's former employees first, and only then can he satisfy creditors' claims. "Therefore the trustee feels paralysed. He can't even terminate the lease, he can't do anything, as whatever he ordered in these bankruptcy proceedings, he wouldn't be able to pay for it," said Bizon. He described Monday's meeting as a simulated legal measure, as there is serious will to cancel the bankruptcy proceedings. "It (the cancellation) was decided on, and an appellate court is examining it. I think that it's a sort of theatre without legal effects," he said.
At the meeting, creditors backed Bugan as bankruptcy trustee, and set up a five-member committee of creditors made up of Bratislava and Vienna airports, Slovakia's Tax Directorate, social-insurer Socialna Poistovna and Flight Operational Services (LPS).
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
