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Belgian steelmaker Liberty Liège officially declared bankrupt

Belgium-based steelmaker Liberty Liège, a subsidiary of Romania-based Liberty Galati, has been declared officially bankrupt by the Commercial Court of Liège after failing to raise the necessary funds to maintain its assets.

Belgian steelmaker Liberty Liège officially declared bankrupt

The closure of the company directly affects around 550 employees. They have not received their regular salaries since January and were unable to apply for unemployment benefits until the bankruptcy was declared. With the bankruptcy declared today, curators will be able to forward dismissal certificates, C4 forms and other social documents to workers. This will give them the status of job seekers and start the process of claiming unemployment benefits.

Farouk Chennit, regional secretary of the ACV-CSC Metea union, stated, "The declaration of bankruptcy will allow workers to register as job seekers and apply for unemployment benefits. They will also be able to process all rights arising from the employer's termination of the contract,"

On the other hand, the unions regretted that the loan they requested from the Walloon Region to keep the plant running ahead of a possible takeover was not granted. They emphasized that they remain hopeful that a new investor will be found and the future of the plant will be secured through the bankruptcy process.

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