Rác Bath Company In Budapest In Liquidation

  • 9 Aug 2016 9:00 AM
Rác Bath Company In Budapest In Liquidation
A court has ordered the liquidation of project company Rác Beruházó, which teamed up with Rác Nosztalgia to renovate the historic Rác bath and spa at the foot of Gellért Hill in Buda.

The renovation project was completed six years ago, but legal disputes prevented the opening of the bath and attached hotel.

The companies and the city of Budapest reached an agreement in 2013 on credit management and ownership.

However, as not all conditions were fulfilled, the city requested the liquidation of Rác Beruházó in July of last year.

Source: Hungary Around the Clock

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