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Arca Capital wants to write off 33% of debts

Arca Capital (Rastislav Velič), which defaulted on its €700m bonds and bills 15 months ago, has submitted its debt restructuring plan hoping to write off 33% of debts. Unsecured creditors of its second largest company, Arca Capital Slovakia, are promised to get back 67% of their claims in five years. It says that if a creditor committee led by SLSP and Privatbanka turn down the plan, creditors will only get 22% of the debts back via bankruptcy proceedings. London-based Blantyre Capital is no longer touted as a savior and the group wants to seek strategic partners for all its businesses. Creditors have 15 days to respond.

The group’s largest company, Arca Investments, is yet to submit its debt restructuring plan. Its creditor committee is led by J&T Banka.


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Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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