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Court orders Malév under liquidation

The Municipal Court of Budapest has ordered troubled national carrier Malév under liquidation, said on Tuesday.

The liquidation order was published in the official company gazette Cégközlöny on Tuesday. The liquidation procedure was initiated on February  1.

The court also extended by 90 days a moratorium on claims against Malév by creditors and suppliers. The moratorium is allowed under an earlier government decree declaring Malév a "business of elevated strategic importance".

Malév ceased operation on February 3 and its leased aircraft were returned.