Lounge Event Kft. faces billion-forint debt crisis affecting major Hungarian events

Subcontractors involved in major Hungarian events, including the Tour de Hongrie, MotoGP Hungarian Grand Prix, and the UEFA Champions League final, are facing significant unpaid debts. The primary contractor, Lounge Event Kft., owned by Gyula Balásy, reportedly owes subcontractors approximately 3.5 billion forint, with the actual figure potentially being higher.

The Hungarian government terminated a 75 billion forint framework contract with the National Event Organizing Agency in June, citing concerns over payment difficulties and legal freezes on Balásy's company accounts. While Balásy previously offered to transfer his state-contract-based companies to the government, officials declined, leaving authorities to manage the situation.

Lounge Event Kft. claims that while invoices for completed work related to several major events expired in mid-July, the National Event Organizing Agency has yet to issue payments.