Bankruptcy of bus builder Van Hool would cost Flanders 18 to 20 million due to lost guarantee, says Minister Brouns

In the event of a bankruptcy of bus builder Van Hool, Flanders would lose 18 to 20 million euros from the guarantee on the company’s loans. This was said by Minister of Economy Jo Brouns (CD&V) on Wednesday in the Flemish Parliament after questions from Jos D’Haese (PVDA), Thijs Verbeurgt (Vooruit), Andries Gryffroy (N-VA) and Maurits Vande Reyde (Open VLD).

Source: BELGA

Today at 4:58 PM

“It is expected that negotiations with the interested parties will start on Thursday and that an agreement could be reached by Easter,” Brouns said on Wednesday. “The bankruptcy will probably be filed after Easter.”

Flanders is directly involved in the bankruptcy with a guarantee provided by Gigarant on the company’s current loans. Flanders guarantees a total of 30 million euros. If Van Hool goes bankrupt, it will no longer be able to repay its loans. But Flanders still thinks it can recover part of the guaranteed amount. “The loss is estimated at 18 to 20 million euros,” Brouns said.

Thijs Verbeurgt from Vooruit accused Flanders of an apathetic attitude. “We see a very different Jo Brouns than when it comes to farmers,” he said. “Today you are a spectator in an economic drama. That is the painful reality.”

Jos D’Haese of PVDA went one step further and again asked the Flemish government to take over the company. “Those people don’t want another job, they want to build buses and it’s time this government makes that possible,” he said.

Andries Gryffroy of N-VA made a plea to also keep an eye on the more invisible victims. “I also keep awake at night about the small supplier who will soon not be at the table with the major creditors. And from the tour operator who has just ordered buses and has lost his advance payment.”