Post by Mr LayVon on Jul 21, 2012 14:57:08 GMT 6
The Nürburgring is insolvent and finally asked the District Court of Bad Neuenahr the opening of insolvency proceedings. Due to lack of lease payments, the company is no longer able to operate a 330 million-euro loan.
The state-owned Nürburgring in Rhineland-Palatinate has applied to the District Court of Bad Neuenahr-Ahrweiler a request to open insolvency proceedings. This also applies to the subsidiaries Motorsport Resort Nürburgring GmbH and Congress and Motorsport Hotel Nürburgring GmbH, the company said on Friday evening.
It would be applying for a self-administered bankruptcy. Here, the Director shall remain in office, but are controlled by an administrator. The goal is to fight the "Nürburgring a future-oriented design to allow the pending proceedings," it said.
Nürburgring GmbH bankrupt over unpaid rental payments
The Rhineland-Palatinate Premier Kurt Beck (SPD) announced on Wednesday that the Nurburgring will be included in the bankruptcy world experience. The blame, he gave the European Commission for refusing to include a cash infusion of the country of 13 million euros by the end of July for approval.
The Nürburgring is impossible without this assistance due to lack of lease payments by the private operator of cash and can not operate a 330-million-euro loan. (DAPD)
The state-owned Nürburgring in Rhineland-Palatinate has applied to the District Court of Bad Neuenahr-Ahrweiler a request to open insolvency proceedings. This also applies to the subsidiaries Motorsport Resort Nürburgring GmbH and Congress and Motorsport Hotel Nürburgring GmbH, the company said on Friday evening.
It would be applying for a self-administered bankruptcy. Here, the Director shall remain in office, but are controlled by an administrator. The goal is to fight the "Nürburgring a future-oriented design to allow the pending proceedings," it said.
Nürburgring GmbH bankrupt over unpaid rental payments
The Rhineland-Palatinate Premier Kurt Beck (SPD) announced on Wednesday that the Nurburgring will be included in the bankruptcy world experience. The blame, he gave the European Commission for refusing to include a cash infusion of the country of 13 million euros by the end of July for approval.
The Nürburgring is impossible without this assistance due to lack of lease payments by the private operator of cash and can not operate a 330-million-euro loan. (DAPD)