Slovakia not to pay more than €30 Mn to Cyprus-based letterbox

Slovakia will not have to pay over €30 million to a Cyprus-based letterbox company, which used to be a stockholder in the now-bankrupt European Health Insurance Company (EZP). The Bratislava Regional Court overrode the verdict of the Bratislava District Court I in a dispute that saw the company sue the state for compensation for lost investment, TASR learnt from Parliament's Office on Friday. Slovakia thus prevailed in another legal battle over the so-called ban of profits for health insurance companies. EZP went bankrupt in May 2008, leaving the health insurance market after the state banned privately-owned health insurers from paying dividends to stockholders in the same year. The Cyprus-based letterbox firm decided to pursue legal action in order to claim compensation for lost investments.