Swiss Court Grants Nord Stream 2 AG Additional Time to Avoid Bankruptcy

The court extended the deadline for creditor payments to May 9, offering the pipeline operator a chance to resolve its financial troubles.

The Nord Stream 2 AG, owned by Russia's Gazprom, has been granted a two-month extension by the Zug Cantonal Court in Switzerland to settle debts and avoid insolvency.
The company had previously received a deadline extension in January, which required full payment to creditors by March 5.
The newly extended deadline is now set for May 9, following a request from the company's administrator, Transliq.
Nord Stream 2, designed to transport Russian gas to Germany, has been inactive since its completion due to geopolitical tensions and sanctions following Russia's invasion of Ukraine in 2022.
Parts of both Nord Stream 1 and Nord Stream 2 pipelines were damaged in a 2022 sabotage incident, leaving significant portions of the infrastructure unusable.