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| Váhostav-SK threatens with bankruptcy proceeding if restructuring suspended |
| Bratislava, 21.04.2015 |
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| The Slovak government will attempt to interrupt the ongoing restructuring of the Váhostav-SK construction company which should be concluded on April 30, Prime Minister Robert Fico announced after a working meeting with representatives of the self-employed and construction companies at Government Office on April 18.
Váhostav-SK is trying to resolve its dire situation by restructuring, but while banks and big debtors get full amounts of their due sums, small creditors shall receive a mere 15 percent of the sums the firm owes them. This, although it is the usual procedure when companies are restructuring, caused uproar among the small creditors, mostly self-employed, as well as the wider public.
The government initiated a parliamentary session meant to amend the law on restructuring, striving to change the current state of matters. However, it suspended the process of approving the amendment in order to recall the deputy speaker of parliament and chairman of the opposition Christian-democratic Movement, Ján Figež, who was transport minister during the time the unrealistically low prices of bids for highway tenders were signed which brought the company down. This process has postponed the passing of the amendment and it may not be passed before the April 30 deadline. Thus, the government announced it would interrupt the restructuring, the Sme daily wrote.Spectator |
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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