Martin asks for forced administration

The town of Martin has asked the Finance Ministry to introduce forced administration, mayor of Martin Andrej Hrnčiar announced on Thursday. The town is obliged to pay over €8.6 million after a lost court case with a Ski Resort company called PK Factoring which bought this obligation from its previous owner. "We're asking for forced administration, as the town of Martin is unable to settle its obligations at the moment, even though it's one of the healthiest and best performing towns in Slovakia", said its mayor. A Government audit started on Friday and the town hopes to protect its strategic assets. According to Hrnčiar, Martin will keep fighting. "We appealed to the Constitutional Court. We'll also turn to the European Court of Human Rights in Strasbourg". However, Peter Kubik, the owner of the town's opposing company claims that any further protraction of the case would only be expensive and harmful to the town". The case tracks back to 1995 when the town of Martin, under its former mayor Stanislav Bernat, made a non-cash investment in Martinské Hole Ski Resort. In 2002, authorised representatives of Martinské Hole Ski Resort sued the municipality for violating certain legal commitments.