IIG Belgium files for bankruptcy
This week large Belgian warehouse real estate developer Immo Industry Group (IIG) filed for bankruptcy. Nevertheless, IIG is going to continue work.
Immo Industry Group started the claim about the beginning of bankruptcy procedure on trading affairs in the city of Dendermonde (Belgium) on February, 16th. GII has started to face problems after liquidation of the basic financial partner of group - British fund Belgravia Asset Management.
IIG unites civil-engineering designs of 18 industrial parks in Central, the Eastern Europe and Russia. Bankruptcy of the Belgian developer will not affect activity of its joint ventures.
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