TASS's latest Nord Stream 2 news said that the Swiss cantonal court of Zug announced that the final bankruptcy moratorium of Nord Stream 2 AG - the company operating the Nord Stream 2 gas pipeline - has been extended until May 9, 2025.
"The final moratorium on Nord Stream 2 AG's debt repayment has been exceptionally extended until 9.5.2025 by decision of the Zug State Court EN 2022 2, dated 9.1.2025. Nord Stream 2 AG is obliged to repay the full amount to all minor creditors within 60 days of receipt of this decision and to submit the relevant payment receipts to the Zug State Court," the court said.
If the Nord Stream 2 gas pipeline operator fails to comply with this deadline, the company will be declared bankrupt without any extension being set.
Transliq AG will continue to operate as the interim manager of Nord Stream 2 AG.
Nord Stream 2 AG was to complete an $11 billion gas pipeline project in 2021 to pump gas from Russia to Germany. But Germany halted approval for the pipeline to begin operations just before the Russia-Ukraine conflict erupted. The United States also imposed sanctions on Nord Stream 2.
In September 2022, one of the two branches of the Nord Stream 2 pipeline was damaged by mysterious explosions. During the same sabotage, two branches of the Nord Stream pipeline were also detonated.
