<article><p class="lead">UK-owned Liberty Steel may have signed a three-month management contract with the liquidator of Hungarian steel producer Dunaferr to run the beleaguered company, according to sources.</p><p>Liberty declined to comment while the liquidator did not return repeated requests for comment. </p><p><i>Argus</i> revealed in December that <a href="https://www.argusmedia.com/en/news/2400722-libertyowned-coal-to-keep-dunaferr-coke-ovens-running">coal from Liberty Steel was being railed to Dunaferr to keep the plant's coke ovens running</a>. </p><p>During the same month, Hungary amended its bankruptcy legislation, meaning that Dunaferr could enter liquidation and be sold. Ukrainian steelmaker Metinvest wrote to the Hungarian government in mid-December, <a href="https://www.argusmedia.com/en/news/2408349-ukraines-metinvest-interested-in-acquiring-dunaferr">declaring its interest in the facility</a>. Metinvest is seeking outlets for its raw materials, as well as captive slab for its European rolling assets, given reduced domestic output.</p><p>Liberty has also expressed its interest in acquiring the site. Liberty head Sanjeev Gupta met with Hungarian politicians with a view to buying the business shortly before the failure of its main financier, Greensill. </p><p>Liberty has been in talks with the Hungarian government this month. A delegation from the company visited the plant earlier this month, where the temporary management contract was originally signed. Liberty has established a legal entity in the country, Liberty Central Europe, as reported by <i>Argus</i>.</p><p class="bylines">By Colin Richardson</p></article>
