The municipality of Utrecht has lost
20.5 million Euro on a loan to the contractor hired to develop a stadium for the
local soccer club FC Utrecht. The
developer has gone bankrupt and the municipality has sold its claim to the Rabobank at a major discount, taking a huge loss in the process.Wednesday, September 2, 2015
Utrecht Municipality loses 20 million Euro on Soccer Stadium
The municipality of Utrecht has lost
20.5 million Euro on a loan to the contractor hired to develop a stadium for the
local soccer club FC Utrecht. The
developer has gone bankrupt and the municipality has sold its claim to the Rabobank at a major discount, taking a huge loss in the process.
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