Govt declares two companies of “strategic importance”

Budapest, April 3 (MTI) – The government has declared Gyori Eto FC Kft and ETO PARK Kft, companies currently under bankruptcy protection, of “elevated strategic importance”, a decree published in the latest issue of the official gazette Magyar Kozlony shows.

Companies thus declared are subject to different liquidation procedures than conventional companies.

The ETO Park stadium, home to Gyori Eto FC, was recently seized as part of an investigation into brokerage Quaestor on suspicion of fraud. Quaestor used a 17 billion forint (EUR 57m) loan from the Hungarian Development Bank (MFB) to build the stadium nearly a decade earlier.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters