The Nurburgring, a car-racing track in Germany that is famous around the globe, has been given a state-backed emergency loan.
Autoweek has reported that the racetrack has been granted a $312m loan guarantee by the German state of Rhineland-Palatinate, which will allow the company to service a $406m loan, in order to stay afloat.
Debts of $507m against assets of $154m forced the racetrack to file for bankruptcy in July. The track’s schedules have so far been unaffected in 2012.
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