Gowex begins bankruptcy in view of "imminent insolvency"

Monday 14 July 2014 | 14:43 CET | News
Spanish wireless internet services provider Gowex, which initially announced its intention to file for bankruptcy on 06 July, has confirmed through its lawyers that it has initiated bankruptcy proceedings because it finds itself in a state of "imminent insolvency". Law firm Velez & Urbina told Reuters that Gowex had taken this decision because it faces a "financial standstill" after a numerous contracts were terminated and new projects cancelled in the wake of the accounting scandal. The accounting scandal was confirmed after the CEO and founder of Gowex, Jenaro Garcia, admitted he had

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Categories: Mobile & Wireless
Companies: Gowex
Countries: Spain
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