Arca Capital questioned its obligation to repay bills through which it borrowed €600m

Investment group Arca Capital (Rastislav Velič) has for the first time questioned its obligation to repay bills through which it borrowed €600m from about 3,000 investors. Arca rather aggressively argued at the Banská Bystrica District Court that the bills were not submitted on time and it need not repay them. Lawyers say such arguments are unlikely to succeed but can slow down the issuance of payment orders. Creditors may respond by claiming their debts more aggressively, too.

(sme.sk)