Debts of Gussing biomass plant higher than projected

Sep 10, 2013 - The debts of insolvent Austrian biomass plant Gussing stand at EUR 7 million (USD 9.3m), according to liquidator Peter Hajek.

Today, he recognised creditor claims in the same amount. The largest creditor claim, of more than EUR 1 million, is that of Austrian bank Hypo Alpe Adria, which itself is insolvent and facing liquidation.

So far, the debts of the Gussing plant were projected to be around EUR 6 million.

The decision whether the facility will continue operations will be made at a creditors meeting on October 21.

(EUR 1.0 = USD 1.324)

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Published Sep 10, 2013 15:58 CEST

Author Ivanka Damyanova

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