Court initiates bankruptcy proceeding against Váhostav-SK

THE DISTRICT court in Bratislava launched a bankruptcy proceeding against the construction company Váhostav-SK over unpaid debts to its partners, the TASR newswire reported on September 23.

THE DISTRICT court in Bratislava launched a bankruptcy proceeding against the construction company Váhostav-SK over unpaid debts to its partners, the TASR newswire reported on September 23.

“Váhostav-SK has recently noticed several proposals to launch a bankruptcy proceeding, submitted by the creditors of the company, due to the unfavourable situation in the Slovak construction sector,” the company’s spokesperson, Tomáš Halán, told TASR.

He added that the company’s management continues to settle the disputes transparently and is in negotiations with creditors.

“Simultaneously, it is looking for ways to end the launched bankruptcy proceeding and continue in its activities,” Halán said, as quoted by TASR.

Váhostav is currently working on six stretches of highways. In two cases it has asked to postpone the deadline of the completion, which is currently under review by the relevant authorities. This includes a stretch of the Jánovce-Jablonov highway that it is building with Bögl a Krýsl, and the Dubná Skala-Turany stretch.

The company, which employs 1,300 people, is also involved in modernising the railway between Beluša and Púchov.

Source: TASR

Compiled by Radka Minarechová from press reports

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