Angry Váhostav creditors ask Prime Minister for meeting

Disenchanted creditors of the construction company Váhostav-SK would like to meet Prime Minister Robert Fico to discuss the status of the restructuring process regarding the construction giant and its impact on small-and medium-sized companies, said Milan Blaho of the Informal Association of Creditors of Vahostav-SK on Monday. "Of course, the most acceptable solution for us would be for the debtor to settle its obligations. We don't want any solution to be to the detriment of taxpayers; but at the same time they don't want to lose their savings and investment deposits in banks. Simply, we want justice", said Blaho, whose association represents some 300 creditors of the construction firm. According to Váhostav's restructuring plan, the company is set to cover only 15 percent of its debts to its contractors; companies and sole traders. Meanwhile, secured creditors, largely banks, should be entitled to as much as 100 percent. The total liabilities of the firm stand at €136 million.