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Bregenz to seek bankruptcy

Austria - 02 June, 2005
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The Relegated Austrian club plans to file for bankruptcy. "I have been instructed by the club board of directors to file a petition for bankruptcy with a view towards a compulsory settlement (with creditors)," lawyer Stephan Wirth told media. In April the Austrian Bundesliga denied the club a new playing license. Club president Hans Grill told media that it was not uncommon for Austrian clubs to seek a settlement with creditors through a bankruptcy procedure.
Source: euFootball.BIZ © Copyright 2006 - All rights reserved.

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