Sources said that the legal consultant of London-resident Ehab Talaat, owner of Egyptian Media Company, filed a debt-settlement application to Ahram Organization and Egyptian Television Authority.
Talaat wanted first to settle his debt so as to be able to return to Egypt, Sources affirmed.
Talaat’s debt to Ahram Association is about EGP 50 million, while his debt to Television Authority is EGP 23 million, noting that the settlements negotiations is likely to end before the end of the second half of the current year, Sources said.
Talaat tried to settle his debts since 2010, but the negotiations stopped during the January 25th revolution till the end of 2011.
Egyptian Media Production City owes Talaat about EGP 17 million, so Talaat’s legal consultant is currently studying how he could return this value to be used in the debt settlements.