$859 Million Debt For Lotto Firm

Written On  5/13/11 By Recentpoker.com staff writer Frank Polliern :

DEBT CLAIMS OF $859 MILLION FOR CZECH LOTTO FIRM
 
Debt claims racking up for insolvent lottery firm
 
Josef Cupka, the bankruptcy administrator overseeing Czech lottery company Sazka’s debt claims has recognised CZK 14.7 Billion ($859 million) in claims from creditors, reports Reuters.
 
Sazka became insolvent in March this year and has had its gaming licence temporarily suspended by the Czech Finance Ministry, a ruling it is appealing.
 
Cupka has reportedly rejected claims worth 17.15 billion crowns, and requested further information on another 9.27 billion worth of claims.