A court has declared Admiral Tours Hungary Utazásszervező Kft insolvent, and began the liquidation process, hvg.hu reports. Admiral Tours – the joint venture of former interior minister Sándor Pintér, the head of his cabinet László Valenta as well as ex-Budapest police chief Péter Gergényi (pictured) – was founded in 2006, but according to the original article, the travel agency was already Ft 26 million (€94,000) in the hole a year after opening, before closing its doors earlier this year. We’re not quiet sure what the lesson is to be learned here, however. It’s either that politicians from recent governments aren’t all that good at economics, or that if your buddies in power aren’t willing to prop you up, you will actually need a viable business plan.
