Swiss-based Russian gas pipeline operator Nord Stream 2 AG said yesterday that it has not filed for insolvency, Reuters reported. "We do not confirm the media reports that Nord Stream 2 has filed for bankruptcy. The company only informed the local authorities that the company had to terminate contracts with employees following the imposition of U.S. sanctions on the company," Nord Stream 2 AG said in emailed comments. The firm, based in Zug, Switzerland, was considering filing for insolvency, two sources familiar with the situation told Reuters earlier this week, as it attempts to settle claims ahead of a U.S. sanction deadline for entities to stop dealings with it. Separately, Zug's cantonal economy director, Silvia Thalmann, said that process had not been activated. "We know that Nord Stream 2 is facing enormous payment difficulties. The company has not until now filed for bankruptcy with the Zug Commercial Registry Office," she said.
