Nord Stream 2 Pipeline Firm Gets 6-Month Stay of Bankruptcy
BERLIN—A Swiss court has granted a six-month “stay of bankruptcy” to the operating company for the never-opened Nord Stream 2 pipeline, which was built to bring Russian gas to Germany but put on ice shortly before Russia invaded Ukraine in February.
The company’s stay was extended from Jan. 10 through July 10 by a regional court in the Swiss canton (state) of Zug, according to a notice published Wednesday in the Swiss Official Gazette of Commerce.
Nord Stream 2 AG, a subsidiary of Russia’s Gazprom, is based in Zug. Nord Stream 2’s court-appointed administrator, Transliq AG, sought the extension.
German Chancellor Olaf Scholz’s government halted the certification process for the pipeline on Feb. 22, after Russia recognized the independence of two separatist regions in eastern Ukraine. Russian President Vladimir Putin ordered sent troops into Ukraine two days later, and U.S. President Joe Biden President then directed his administration to impose sanctions on the Nord Stream 2 operating company….