Belgian provider EDPnet is in financial trouble, according to website Data News. The provider was granted temporary creditor protection by a Belgian court. The company is said to have debts with network operator Proximus, among others.
Data News stated that EDPnet obtained creditor protection from a Belgian court on October 31. The protection is valid until December 15, giving the provider breathing space to negotiate with one or more creditors. The company is legally required to start negotiations with creditors and reach an agreement on how to resolve the financial situation.
According to Data News, EDPnet has an outstanding debt with Proximus, a major Belgian operator. EDPnet is one of the last independent telecom providers on the Belgian consumer market, but the provider does not have its own network. The company uses Proximus’ network for its services.
In return, EDPnet is expected to pay wholesale rates. Proximus told Data News that EDPnet defaulted on its payments. The total sum of EDPnet’s debt to Proximus is unknown.
No bankruptcy in sight
According to EDPnet, bankruptcy is out of the question for now. In a statement to Data News, the provider said that the financial situation does not affect its services.