According to Dorna Sport, there are a total of approximately 6.4 million eru in unpaid receivables.
Dorna Sports, which owns the rights to the MotoGP races, is filing for bankruptcy of Kymiring’s subsidiary. It is about a company called Kymiring Events, with which Dorna Sports has signed an agreement to organize the MotoGP races in Iiti.
The bankruptcy petition refers to the promotion agreement concluded in July 2021. In it, Kymiring Events has committed to pay Dorna almost 6.4 million euros. The bankruptcy filing does not clarify what the unpaid invoices are, but they are related to the cancellation of the MotoGP event. Part of the bankruptcy application has been ordered to be filed in secret.
According to the bankruptcy application, Dorna has unsuccessfully collected its receivables with invoices dated last spring and summer.
Kymiring Events is a subsidiary of the railway company Kymiring. Last summer, the heavily indebted railway company Kymiring filed for corporate reorganization to avoid bankruptcy.
The MotoGP races planned in Iitti were first postponed due to the corona virus, but this year they were canceled because there were deficiencies in the construction of the venue.