Metrostav, one of the mayor construction players on the Czech market, is in insolvency proceedings. The process was been initiated by one of its contractors, Alu Progress, which claims Metrostav owes it CZK 1.4m, and the payment is three month overdue. Metrostav says the insolvency proposal is unjustified. “It is a classic case in which the company is filing suit after having failed to meet its obligations in a contract. Metrostav refuses the proposal and will consider taking legal steps,” the server EuroZprávy quotes Metrostav spokesperson František Polák. Alu Progress recently filed suit with another construction company, PSJ, but the regional court in Brno eventually refused the proposal in the end.
