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Sazka reaches agreement to avert bankruptcy

8th February 2011 10:12 am GMT

Following the instigation of insolvency proceedings last month by one of the company’s main creditors, Czech gaming operator Sazka has concluded an agreement to avert the threat of bankruptcy and return the company to financial stability.

The insolvency proceedings were filed by Moranda A.S via one of Sazka’s main creditors, Radovan Vitek, at Prague’s Municipal Court.

At the time, Sazka described the move as “unreasonable” and bordering on “chicanery”, stating that the company was neither in economic [...]

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