Hungarian Tycoon in Showdown With Creditors Over Fertilizer Firm

Laszlo Bige, one of Hungary’s wealthiest entrepreneurs, is in a standoff with creditors of his fertilizer business as the company faces imminent debt deadlines.

Talks between Nitrogenmuvek Zrt and holders of around 70% of the €200 million ($227 million) of bonds due next month have concluded with no deal, the company said in a filing on Monday. Nitrogenmuvek sought an extension of the maturity, and in return offered creditors some additional interest, tighter terms and to post €100 million of receivables and inventory as collateral.