Croatia’s Viadukt DocumentsDeclare Pre-bankruptcy Process

ZAGREB(Croatia), May 23 (SeeNews) – Croatian building business Viadukt [ZSE: VDKT-R-A] claimed on Tuesday it has actually submitted a request with Zagreb commercial court to go into pre-bankruptcy proceedings.The request was lodged

on Might 18, the company claimed in a Zagreb bourse filing without disclosing further details.In March, state-owned motorway operator Hrvatske Ceste ended an offer for the building of Ciovo bridge it had actually authorized with Viadukt in 2015. At the exact same time, Viadukts financial institutionchecking account were blocked.These occasions culminated in financial issues for the construction business, which have actually gotten rid of over 80%of the value of Viadukts shares in much less compared to 3 months.Viadukts share rate dropped from 423.89 kuna($64/57 euro)on March 2 to 71.88 kuna on Could 22. The price of Viadukts shares struck its cheapest degree this year on

May At the same time, Viadukts bank accounts were blocked.These events finished in economic troubles for the construction company, which have gotten rid of over 80%of the value of Viadukts shares in less than three months.Viadukts share cost dropped from 423.89 kuna($64/57 euro)on March 2 to 71.88 kuna on Could 22.