Proxenta owes hundreds of millions

The Proxenta group (Pavol Kožík) is refusing to disclose the full extent of its financial difficulties. Media estimates put the Slovak liabilities of Proxenta and its subsidiaries at €150–250m, plus nearly €50m from failed investments in Cuba. This is a mix of bonds, promissory notes, and loans from both retail investors and banks. The group stopped servicing its debts in March. Bonds totaling €20m are due for repayment this year.

(sme.sk)