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Court Approves Sale of Bankrupt Slovak Chemicals Firm

11:30 AM MST | January 9, 2012 | Ian Young

A regional court at Trencin, Slovakia has approved the sale of bankrupt chemicals and polymers producer Novacke Chemicke Zavody (NCHZ; Novaky, Slovakia) to Via Chem (Prague), press reports in Slovakia say. The court was asked to rule on the proposed deal after NCHZ's creditors failed to reach an agreement on whether to sell the company to Via Chem or to businessman Miroslav Remeta. Via Chem reportedly offered €2.2 million for NCHZ and Remeta reportedly offered €2 million. Further details were not disclosed. NCHZ produces a range of chemicals and resins...

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