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Quick-loan company Athlon files for bankruptcy

Hungarian quick-loan company Athlon Pénzügyi initiated bankruptcy procedures against itself on July 8, the business daily Napi Gazdaság wrote on Monday.

Citing financial-market regulator PSZÁF spokesman István Binder, the newspaper reported that PSZÁF is currently conducting an investigation of the operations of Athlon and its quick-loan peers Provident and Kápé. Binder said that the regulator is also conducting as a separate examination of Athlon which could connected to the company's current bankruptcy situation.

Athlon lost HUF 473 million (€1.72 million) in 2007. (MTI-ECONEWS)