Creditors of the bankrupt non-banking firm BMG Invest will get back only a fraction of their investments. The Regional Court in Košice decided on the division of €10.3 million of proceeds from the bankruptcy proceeding, while creditors will be paid only less than 2 percent of their investments. This means that creditors will get less than €18 for €1,000 invested, website aktuality.sk reported.
In the 17 years since the bankruptcy of BMG Invest, significant parts of the proceeds have been used to cover the expenses of the bankruptcy proceeding. Together, these costs increased to almost €2.6 million.
26. Aug 2019 at 23:38 | Compiled by Spectator staff