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Losses and expiry of EUR 25m loan push German telecoms billing company into insolvency
Telecoms billing company Orga Systems has filed for bankruptcy after losing EUR 32.3 million and reaching the end of a EUR 25 million loan agreement.
The company filed for bankruptcy in the district court of Paderborn, the German town where it is based.
Reports say Orga Systems employed 650 people worldwide, including 200 in Paderborn and 280 in Brazil...
