- 11 Jan 2017 11:00 AM
A closed sale would require meeting strict conditions, conditions which have not yet been met at this point in the liquidation procedure, Börcsök said. Creditors have filed claims for close to 10.6 billion forints (EUR 34m) from Rác Beruházó, one of the developers that renovated the baths.
The deadline for filing for claims from Rác Nosztalgia, the other partner in the project, has not yet passed.
The liquidation procedure was initiated by the Budapest Municipal Council, which earlier bought, at a discount, a 7 billion forint loan the developers took out from the state-owned Hungarian Development Bank (MFB).
Republished with permission of Hungary Matters, MTI’s daily newsletter.