Hungarian government classifies Bayer Construct bankruptcy as strategic priority amid falling revenues

Bayer Construct Zrt., which is under court-supervised bankruptcy, posted a notable reduction in revenue and taxable profit for the first half of the year relative to the previous year, according to its unaudited interim report on the Budapest Stock Exchange. The court issued the insolvency order on September 25, and the government, via a decree on September 4, elevated the case to strategic importance, potentially granting a pre-emptive purchase right in any future liquidation. Prime Minister Magyar Péter said the state will back out of acquiring the Zugló office complex and will demand the return of public money paid for the project, citing numerous contract breaches identified by the Magyar Nemzeti Vagyonkezelő during legal and financial reviews.