March 7, 2018 / 7:41 AM / 3 months ago

BRIEF-ECG To File For Pre-Insolvency Proceedings

March 7 (Reuters) - Euroconsult Engineering Consulting Group SA:

* SAID ON TUESDAY THE BOARD AGREED TO FILE FOR PRE-INSOLVENCY PROCEEDINGS UNDER 5BIS OF THE BANKRUPTCY LAW

* THE DECISION MADE TO PROTECT CORPORATE INTERESTS AGAINST DEMANDS MADE BY FORMER EMPLOYEES

* THE LITIGIOUS DEBT ASCENDS TO 1.8 MILLION EUROS TO BE DEALT WITH DURING 2018

* THE CO’S FINANCIAL DEBT AMOUNTS TO 15 MILLION EUROS SUBJECT TO FRAMEWORK AGREEMENT WITH BANKS AND WITH MATURITY AT THE END OF 2021, OTHER FINANCIAL DEBT OF 5.1 MILLION EUROS AND GUARANTEES GRANTED BY 4 MILLION EUROS

* THE CO’S PROJECT PORTFOLIO ASCENDS TO 50 MILLION EUROS

* ECG TO OPEN NEGOTIATIONS UNDER THE PROCEEDINGS

Source text: bit.ly/2FvJEMl

Further company coverage: (Gdynia Newsroom)

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