The Sofia city court declared Bulgarian operator Max Telecom insolvent in a case opened at the request of local M Sat Cable over a BGN 116.2 million debt, writes SeeNews.com citing documents filed with the commercial register. Max Telecom failed to make two payments worth BGN 67.6 million to M Sat Cable as agreed in a January 2017 deal and subsequently accumulated further debt, according to the court.
The court also confirmed that Max Telecom has an unpaid debt of BGN 2.3 million toNokia Solutions and Networksdating from 2016.
Max Telecom is owned by private investor Daniel Kupsin and local company MT Management. MT Management is a wholly-owned unit of Luxembourg-registered Luxtech Capital.
Read the full article at: https://www.telecompaper.com/news/sofia-court-declares-max-telecom-insolvent–1273920