It's interesting to look back at the reasons for postponement of the publication of the annual results, for example on
May 15:
SkyEurope Holding AG´s management continues to assess certain material estimates in connection with these annual financial statements
(thanks to davidjohnson6's earlier post for the link).
In fact, from the annual report released
today (PDF), we can see (pages 97-98) that already on 24 April their auditors, KPMG, had issued an adverse audit opinion, stating that there were insufficient grounds for considering the company to be a going concern and that the company's valuation of its assets was unjustifiable.
"Assess certain material estimates" is certainly a vague enough way of describing this...