The world's most renowned racetrack and residence to Germany's F1 circuit (alternating with Hockenheim), the Nürburgring, has fallen into insolvency as the state-owned firm that owns it can not spend its bills.
The German state of Rhineland-Palatinate, which owns 90 percent of Nürburgring GmbH, said it was forced to file for bankruptcy after the European Commission refused to grant it the proper to pump an additional €13 million (US$ 16 million) into the project, which would have
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