Commissioner estimates state liability over Malev liquidation at HUF 1,000bn
Forrás: MTI |
2012. február 08. szerda 20:31 |
Hungary's government commissioner in charge of holding public servants to account has estimated the state's liability over national carrier Malev's bankruptcy to reach 1,000 billion forints (EUR 3.4bn).
Gyula Budai told a press conference on Wednesday that if Malev goes under liquidation the state may have to pay airport operator Budapest Airport 1,000 billion forints under a privatisation contract.
He said the state must pay 90 percent of senior debt taken out by the company and 97 percent of capital injections it made at the airport. Citing a contract, he said the senior debt payment would amount to 1.5 billion euros, in addition to the 60 billion forints in the company's shares, 390 billion forints for 75-year management rights for the airport and 15 billion forints for tangible assets.
Budai said he would expand an earlier legal complaint over Budapest Airport's privatisation and added that he believes former prime ministers Ferenc Gyurcsany and Gordon Bajnai must have known about the financial commitments contained in the contract. He added that the contract signed by the asset management contains favourable terms for the owner of Budapest Airport, the German Hochtief, in the event of Malev's bankruptcy.
Gyurcsany on Tuesday denied that he had either authorised or known about a secret clause in Budapest Airport's privatisation contract and that details of the Budapest Airport contract were unknown to him.
Hungarian flag carrier Malev ceased operation on February 3, the company is currently managed by a special administrator.