Arca Investments (Rastislav Velič) asked for temporary bankruptcy protection

Arca Investments (Rastislav Velič) asked for temporary bankruptcy protection as it is unable to pay its creditors. It is “preparing internal reorganization” and launching “crisis management.” It downplays its financial woes and claims “its overdue payables represent less than 1% of assets under Arca management.” The group funded its recent massive acquisitions by debt; it is still selling bills with a yield of 6% p.a. It controls €600m assets.

(hnonline.sk)