Creditors of bankrupt BMG Invest get only a fraction of their investment

For every €1,000 there only less than €18 will be paid.

Illustrative stock photoIllustrative stock photo (Source: Sme/Jozef Jakubčo)

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.

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