HOT TOP|Politics & Policy|Companies
István Léko|11.04.2012

Bad news for politicians linked to Key Investments

The battle over the assets of the investment firm Key Investments, through which the administrations of Prague 6, 10 and 13 invested hundreds of millions of crowns, undoubtedly has a number of politicians gripped with fear. The organs of justice have finally begun to take action: in mid-March the Prague 2 district court ordered the confiscation of the assets of the firm Oleochem, Czech Position has learnt.

Politics & Policy|Companies|Society
Tom Jones|06.02.2012

Prague districts approve ambitious cable car project

Plans for a two-kilometer cable car line across the Prokopské Valley linking the district of Barrandov with the Nové Butovice metro station in southwest Prague have been approved by the administrations of Prague 5 and 13. However, the head of Prague 5’s environment committee says the project would ruin a protected nature reserve and is financially unviable.

Politics & Policy|Economy
István Léko|06.07.2011

Prague 13 says dubious investment debt repaid

Prague 13, one of three councils in the capital that entrusted a dubious investment group with taxpayers' money, says it has got all its money back. But Mayor David Vodrážka is is not coming clean and saying who paid the debts. Investment company, Key Investments, is an unlikely contender since it has been subject to a distraint order since the start of the year.

Markets & Finance|Politics & Policy
Tomáš Hlaváč|31.05.2011

Prague districts warned over invalid bond investments

Three Prague districts are hoping to receive Kč 62 million from non-liquid bonds issued by chemical company Via Chem Group which mature on June 1, but a shareholder in the firm claims these and other bonds issued by the firm are invalid. What is more, the brokerage that purchased the bonds on behalf of the Prague administrations has lost its broker’s license. 

HOT TOP|Politics & Policy|Companies
István Léko|16.05.2011

TOP 09 calls on Chalupa to resign over Key Investments

The leader of TOP 09’s group of local politicians in Prague, Tomáš Hudeček, has called on Minister of Environment Tomáš Chalupa, Prague 13 Mayor David Vodrážka and former Prague 10 Mayor Vladislav Lipovský to resign for their roles in entrusting public funds to investment firm Key Investments.

Politics & Policy|Companies
Tomáš Hlaváč|04.05.2011

Key Investments blames Czech Position for inability to pay

The brokerage Key Investments has blamed Czech Position for causing problems complicating the return of Kč 200 million that the Prague 10 administration entrusted to the firm. On Monday, the assembly of Prague 10 discussed developments, or lack thereof, with district leaders’ attempts to get the public funds back from the nontransparent firm.

István Léko|11.04.2011

Key Investments: Only J&T, PPF can aid Prague 10 mayor

Following similar steps by Prague 6 and Prague 13, Prague 10 has demanded the brokerage Key Investments to return money it invested. Together these administrations have entrusted more than Kč 650 million to Key Investments. Prague 10, however, has asked only for its bonds from the Via Chem Group to be sold, choosing to keep its shares in E Side Property.

HOT TOP|Politics & Policy
István Léko|06.04.2011

Mayor Richter’s naïve plan to rescue Kč 200 mln falters

The district administration of Prague 10, which invested public funds with the Key Investments, has not managed to find a way of getting the money back. The tactic chosen by the district’s mayor Milan Richter (Civic Democrats, ODS) is to buy time, but he has yet to find a bona fide expert willing to make a favorable evaluation of the portfolio.

HOT TOP|Politics & Policy|Companies
István Léko|01.04.2011

How to get Kč 650 million from Key Investments: a hopeless challenge?

The district administrations of Prague 6, 10 and 13 still have a total of more than Kč 650 million tied up in the investment firm Key Investments which they are attempting to get back. However, instead of coordinating their efforts to redeem their money, the leadership of each administration has chosen a different tactic. It remains to be seen which, if any, will be more successful.

Politics & Policy|Companies
István Léko|31.03.2011

Key Investments case: state prosecutor quick to react

The criminal complaint lodged last Friday (March 25) by Libor Jirků (TOP 09), a representative in the assembly of Prague 13, relating to the Key Investments brokerage has been passed by the public prosecution service to the police for investigation. Jirků is demanding the return of over Kč200 million of Prague 13’s money tied up in an investment portfolio managed by Key Investments.