Vegyépszer’s broken subcontractors see no chance to get their claims
After one decade of being a favoured construction giant of various governments, Vegyépszer Zrt. seems to get away with its debts cheap as CIB Bank and former competitor Porr backed them out from subcontractors’ appeal against the company’s settlement with creditors. Vegyépszer’s bankruptcy proceedings ended up in a forced settlement, creditors say which enables the company to pay only 200 million HUF total instead tens of billions. The company which was the main contractor of several EU-sponsored projects could not account for the unpaid costs. Our video report shows the victims of Vegyépszer’s bankruptcy and the ruins of broken companies and lives that the company left behind.