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Bankruptcy of Nord Stream 2 AG suspended until autumn

The operator of Nord Stream 2 received a temporary moratorium on bankruptcy from a court in Switzerland. On May 10, the court of the canton of Zug issued a verdict granting the company a 4-month protection for payments in favor of creditors. Transliq AG will act as ...

Nord Stream 2 management company to launch bankruptcy proceedings

... confidentiality of negotiations on potential insolvency. It is reported that Nord Stream 2 AG is currently cooperating with a financial advisor on a number of its obligations and may initiate a bankruptcy case in a Swiss court as early as this week. Nord Stream 2 AG was created by Gazprom to implement a project to double the capacity for pumping gas from Russia to Germany. The cost of the project, which is currently almost completed, amounted to $11 billion. The pipeline with a length of over 1,000 kilometers has been completed and, in order to start operation, it needed to complete the certification ...

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