Biztweet.eu reports that the Slovak contractor Vahostav has paid nearly €2m so far to Slovenskej reštrukturalizačnej, a state-owned fund that bought out the debt incurred by suppliers who collapsed because of the inability of Vahostav to pay them. The contractor is due to pay another installment by the end of June, with final payments scheduled in the same month in 2019 and 2020. It’s thought that if the state hadn’t stepped in, around 470 of Vahostav’s suppliers who signed onto the program would have received just 20 percent of the amount (around €26m) owed them. Under the state-sponsored emergency plan, they should receive around €12.6m. The company ran into financial difficulties while working on a section of the D1 motorway. Even if the Vahostav makes the final payments, it may not be out of the woods. Bitztweet.eu reports that charges of financial fraud are being brought against its top management.
