Pápai Hús takes loan to pay creditors
Hungarian meat company Pápai Hús 2013 will pay its creditors by the end of June after receiving HUF 4.2 bln in loans from the state-owned Hungarian Development Bank (MFB) pursuant to a contract signed on Wednesday, Mayor Tamás Áldozó of Pápa, where the company is located, announced on Thursday evening.
Álfozó said that Pápai Hús received a HUF 3.7 bln investment loan and a HUF 500 mln working-capital loan from MFB. Pápai Hús 1913 applied for bankruptcy protection in July 2013. The company reached an agreement with its creditors in January 2014.
ADVERTISEMENT
Economic Development Ministry Responds to Banking Concerns
Parl't Approves Amendments to Legislation on Judiciary
Hungary Home Stock Grows as Population Declines
New MTÜ Campaign Invites Tourists to Relax at the Waterfront
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
