The civil engineering company Intergeo, based in Salzburg, Austria, has reportedly been forced into liquidation as a result of not being paid for its work on a railway project in Libya.
The work in Libya had been carried out without any problems but when payment was due the money was not transferred as the country descended into chaos with the revolution that overthrew the Ghaddafi regime.
Intergeo was owed more than one million euros in fees, resulting in the firm being left with debts of 730,000 euros. Twelve staff have lost their jobs and 80 creditors are affected by the firm's closure.
(Source: Salzburg Times)