Nitrogenmuvek pays back MFB loans
Nitrogenmuvek paid back its working capital loan at the end of August and its investment loan at the beginning of September, the company said. CEO Istvan Blazsek said he could not disclose the amount under an agreement with the MFB. Government commissioner Gyula Budai said in July he reported Nitrogenmuvek to the Central Investigation Agency on suspicion of misappropriation of funds and bribery. He said the company did not have sufficient collateral for EUR 50m and HUF 10bn of development loans that carried a state guarantee. Nitrogenmuvek insisted at the time that the loans from the MFB carried market conditions.
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