Alpine Bau CZ is currently involved in the reconstruction of the D1 motorway connecting Prague with Brno. Alpine Bau CZ spokeswoman Jitka Hamanová told the daily Hospodářské noviny that insolvency proceedings of the parent company should not have a direct fiscal impact on its branches as Alpine Bau CZ has sufficient capital. “The financing bank said it would continue to support us,” Hamanová added.

Alpine Bau has obligations worth €2.6bn, with Erste Group and Bank Austria among its creditors. The company was on the verge of bankruptcy in March, but the banks agreed to forgive part of the debts, and the state gave security for debts worth €150bn. CEEC Research director Jiří Vacek warns that if the state does not help Alpine Bau again, the company could be forced to sell off its branches to pay its creditors, and Alpine Bau CZ could change hands. (cijjournal.com)