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Historic Balaton Halászati fishing company winds down

Historic fishing company Balatoni Halaszati (BH) announced Wednesday it is awaiting liquidation.

CEO József Klemm said the company accrued debts of HUF 1.3 billion over the last two years, after Balatoni Halgazdálkodási Nonprofit (BHNp) took over fish farming in Lake Balaton and left the company with 1,550 hectares of mortgaged property.

Most of Balatoni Halászat's debts are toward state assets management company MNV. The original plan was to sell the company's remaining property after 2009, but "it wasn't a realistic idea to sell several hundred hectares of fish farms in a short time on a very narrow market,"  Klemm said.