Angry Váhostav creditors ask Fico for meeting

DISENCHANTED creditors of the construction company Váhostav-SK want to meet Prime Minister Robert Fico to discuss the restructuring process of the construction giant and its impact on small and medium-sized companies.

Váhostav-SK is also reconstructing the Bratislava Castle.(Source: Sme)

“We would be happy if this matter is resolved,” said Milan Blaho of the Informal Association of Creditors of Váhostav-SK as cited by the TASR newswire. Blaho filed an official request for a meeting with PM Fico at the Government Office earlier on April 13. “Of course, the most acceptable solution for us would be the debtor settles its obligations.”

According to Blaho, the creditors do not want any solution to be to the detriment of taxpayers; but at the same time they do not want to lose their savings and investment deposits in banks.

Read also:Creditors to decide about Váhostav in late April

“Simply, we want justice,” said Blaho, whose association represents some 300 creditors of the construction firm.

Within its draft restructuring plan, Váhostav-SK is set to cover only 15 percent of its dues to its contractors - companies and sole traders. Meanwhile, secured creditors, largely banks, should be entitled to as much as 100 percent. The total debts of the firm stand at €136 million.

The Slovak parliament will debate the Váhostav-SK case at its special session convened for April 15 while PM Fico has already proposed some possible solutions during weekend discussion programmes of Slovak media. 

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