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Czech News in English » Business » Czech court puts lottery Sazka into insolvency

Czech court puts lottery Sazka into insolvency

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A district court placed Czech lottery company Sazka into insolvency and called a meeting of its main creditors for May 26, the court said on Tuesday. The move was expected after the debt-laden company’s chief executive Aleš Hušák filed for insolvency late on Friday, the latest step in a months-long battle for control of the national lottery operator. Sazka, owned by Czech sports unions, had CZK 10.5 billion in debt as of September 2010.

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