The Slovak construction company Váhostav-SK has initiated bankruptcy proceedings in the Bratislava district court. According to the news portal Sme.sk, the proceedings are taking place due to the company defaulting on payments to its partners.
“In recent years, due to the unfavourable situation in the Slovak construction sector, Váhostav-SK recorded several audit submissions brought by their creditors”, said company spokesperson Tomáš Halán. Mr Halán added that company management is continuing to negotiate with individual creditors. “At the same time we’re looking for a way to terminate the liquidation proceedings and to continue with operations”, said Halán. Váhostav is currently involved in the construction of six sections of motorways, as well as the modernisation of railways. The company employs approximately 1,300 people.
