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HATC SAMPLE EDITION:
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31st August, 2026
Bayer Construct receives temporary moratorium
Construction company Bayer Construct has received temporary protection from creditors pending a court ruling on its application to initiate insolvency proceedings, according to a company disclosure on the BSE website.
The company now has 90 days to reach an agreement with creditors. Bayer filed for insolvency proceedings last week after the government ordered its subsidiary, ZVK Development, to repay Ft 315 billion in public funds provided for the construction of the Zugló city centre in the 14th District.
The government cited alleged contractual breaches identified during legal and financial due diligence, disputed by the developer.
Industry representatives asked by Világgazdaság said the bankruptcy filing should not be seen as the collapse of the company, as a successful restructuring could stabilise its operations.
Failing to achieve that could have serious effects, they warned.
Bayer Construct employed 1,523 people in 2025, generated Ft 237.9 billion in revenue, and had 45 companies under its ownership.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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