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Court annuls Union Banka’s bankruptcy

The regional court in Usti nad Labem annulled the bankruptcy which it had announced on Ceska Revitalizacni believed to be one and the same company with Union Banka last Monday.

Judge Jiri Berka explained he had made his previous ruling based on falsified bankruptcy petition. By means of the latest decision the court dismisses the bankruptcy administrator of Union Banka, who had earlier on the same day sacked the bank’s CEO Petr Votoupal.

The forced administrator also demanded the Italian owner of UB to recover the CZK 35mn it had received from the bank when acquiring it. Meanwhile, ex-CEO of UB and board chairman Mentlik and board member Michal Gaube decided to file charges against an unknown perpetrator because of the bankruptcy.

(IntelliNews 07.iv.03)

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