Managers of debt-ridden lottery giant Sazka have started talks with creditors about the possibility of asking the court for a moratorium which would avert the threat of insolvency for three months, daily Hospodarske noviny said Friday. People on the management of the Czech Sports Association, which is Sazka's biggest shareholder, are allegedly beginning to accept the fact that an investor who would be willing to pour 2 to 3 billion crowns into the ailing company would become a shareholder. The sports association had thus far rejected such a possibility, wanting to keep an absolute majority in the company. In recent years the company generated a debt of around 10 billion crowns, mainly related to the 2004 construction of Prague’s O2 Arena.
The biggest national betting and lottery firm and paymaster for Czech sport, Sazka, is fighting for its survival. On Monday, one of Sazka’s creditors filed for insolvency proceedings against the firm, claiming the betting giant is no longer able to pay its debts. Sazka’s management fiercely repudiates the demand but the firm is looking hard to steer its own way out of trouble.
I have never been a fan of reality TV and would be hard-pressed to watch any programme where people try to meet a suitable partner or spend weeks cooped up in a fishbowl of a room trying to see how they get along. But one show, which has caught my attention is Den D (translatable as D-Day but known in English as Dragon’s Den). If you’re familiar with the programme, you’ll know it’s a show where entrepreneurs try to persuade investors to put money into their start up businesses.
A Czech union has called for the government to take immediate steps to
find out the origin of foodstuffs and clearly labelled packaging. The call
from the Union for Farm Workers and Nutritionists follows criticism on
Friday that German authorities failed to fully communicate the real breadth
of the dioxin scandal. The union also demanded stepped up checks on
A spokesman for the Czech veterinary administration said that despite repeated inquiries, German vets failed to provide the Czech authorities with information about exports of dioxin-contaminated products to the Czech Republic. German officials said on Friday that 4.5 tons of contaminated meat from Germany was sold on the Czech market at the end of December. Czech authorities also banned on Friday the sale of 200,000 eggs from Germany which lacked a precise designation of origin.
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Czechs observe day of mourning for pop idol Karel Gott
Thousands pay tribute to deceased national pop icon Karel Gott