Euro MP averts forced sale of property

Euro MP Miloslav Ransdorf has paid off debts worth seven million crowns, narrowly averting the forced sale of his Prague villa and an apartment in Záběhlice. The auction had been scheduled for the end of the month. To pay off the funds owed, Mr Ransdorf – a member of the Communist Party – reached a deal with two Czech firms, that loaned him more than six million (to be returned later); the rest of the funds were covered by the MP himself, his lawyer said. Petra Báčová, of the Chamber of Debt Collectors, confirmed the scheduled sale had been called off.

Author: Jan Velinger