Tipos Restructuring Stopped and No Longer Needed

State-owned lottery company Tipos, which is embroiled in a complicated lawsuit that could still see it go bust, has had its restructuring request retracted by the District Court in Bratislava at its own request.

The restructuring approval was to have provided the company with protection against creditors, but the company withdrew its request last week after the Constitutional Court acknowledged a claim of the company that its commercial rights had been violated.

The Constitutional Court’s ruling thereby also postponed execution of a EUR 14 million award by the Supreme Court to Cyprus-based company Lemikon over trademark infringement.

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