Budapest, June 15 (MTI) – Hungary’s government has declared a project company established to renovate the Rac baths, one of Budapest’s historic Turkish baths, of “strategic importance”, requiring the application of a special bankruptcy procedure, a decree published in the latest issue of the official gazette Magyar Kozlony shows. The 9 billion forint (EUR 28.7m) renovation and expansion of the baths, supported by financing from the state-owned Hungarian Development Bank (MFB), was completed six years ago, but its doors remain closed because of an ownership dispute.
Source: dailynewshungary