PRAGUE — A Prague court has issued an injunction against the ex-wife of Vladimir Zelezny, general director of Nova TV, blocking the sale or transfer of property.
The action comes in the wake of an international arbitration concluding that Zelezny must return $27 million paid to him by CME in exchange for shares in their Czech service company. Zelezny launched a second Nova TV after CME fired him for breaching an exclusive service agreement.
U.S. and French courts have ordered similar rulings against the property of Zelezny, but the Prague injunction is the first that has involved property awarded to his wife during their recent divorce settlement.
Fred Klinkhammer, president and CEO of CME, which requested the injunction, said, “The distribution of material assets of the former(ly) married Zeleznys could be just as deliberate as the divorce itself.”
Accumulating interest on the repayment has reached $100,000.
In a separate move, CME announced it is laying off its remaining employees in the Czech Republic. More than half its annual $4 million expenditures in the Czech Republic goes toward salaries and upkeep of the former Nova TV station.