SOFIA (Bulgaria), December 17 (SeeNews) – The Sofia city court declared on Monday localtelecommunications operator Max Telecom insolvent in a case instituted at the request of local M Sat Cable [BUL:MCJ1] over a 116.2 million levs ($67.3 million/59.4 million euro) debt, documents filed with the commercial register showed.
In January 2017 the two companies reached an agreement that Max Telecom would repay its outstanding liabilities to M Sat Cable, which totalled 67.6 million levs at the time, in two installments over the next two months, data from the court ruling showed.
However,Max Telecom failed to make the two payments and subsequently accumulated further debt, according to the court.
The court also considered a…
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