The Slovak construction company Váhostav will go bankrupt if the government extends its restructuring process, according to CEO Marián Moravčík. He said that Váhostav is not currently able to meet its obligations, and if the banks cancel its financing, the company will be forced to file for bankruptcy. The company would then not be able to complete several sections along the D1 motorway between Dubna Skala and Turany, scheduled for completion in June, and Jánovce and Jablonov, to be completed in September. Váhostav still needs to invest €26.5m into these sections. It has already lost €27.5m on the project. The R2 expressway between Pstruša and Kriváň is also on the list. Slovak Prime Minister Robert Fico said Saturday that the government wants to interrupt the Váhostav restructuring and change the conditions of the process, so that Váhostav cannot choose its bankruptcy administrator and the rights of the unsecured creditors involved would be better protected.
