October 18th, 2011

Contractor of “Gate of Lake Velencei” project under liquidation; local gov’t looking for new company to finish construction


The contractor of a property development project dubbed “Gate of Lake Velencei” (Velencei-tó kapuja) planned for the Fejér County town of Velence is under liquidation, Ingatlanmenedzser learned. The liquidation procedure was started against Zalaegerszeg-based K+K Bau-Profil Zrt. on September 13. Plans for the “Gate of Lake Velencei” include building a hotel, parks and a lakeside boardwalk.

The portal also learned that the local government had contacted the liquidator to ensure that the project can be completed by the start of the spring season the latest. It will also issue a public procurement tender to find a new contractor.

The local government wrote in a letter sent to the portal that based on K+K Bau-Profil’s balance sheet for last year, it reported the company to the authorities for misappropriation of local government and state funds.


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