Arca Investments, a.s. draws your attention to the fact that in the insolvency proceedings of Arca Investments, a.s., creditors file claims only if they have claims against Arca Investments, a.s. as the main debtor, co-debtor or guarantor.
Claims are not filed by creditors of companies other than Arca Investments, a.s., regardless of whether or not these other companies are related to Arca Investments, a.s. in terms of property or personnel.
Arca Investments, a.s. would also like to point out that the answers to the most frequently asked questions below represent the legal assessment and opinions of Arca Investments, a.s., which are of a recommendatory nature and no claim against Arca Investments, a.s. may be pursued on the basis of them.
1. What are insolvency proceedings?
Insolvency proceedings are a type of court proceeding in which the insolvency or imminent insolvency of a debtor is resolved and the aim of which is to select a settlement of the debtor´s debts in such a way that the claims of all of the debtor´s identified registered creditors are satisfied in proportion as far as possible. In the case of Arca Investments, a.s., insolvency proceedings have been initiated at its request, and Arca Investments, a.s. proposes that its situation shall be resolved in the form of a reorganisation of Arca Investments, a.s. Reorganisation is, by its very nature, a rehabilitation method of resolving a company´s insolvency, the aim of which is not only to set out a plan for creditors to satisfy their claims on a pro rata basis, but, from the debtor´s perspective, the aim of the reorganisation is to preserve the operation of the debtor´s business (which is intended to generate additional revenues for the debtor in the future, which can and should be used to satisfy the debtor´s creditors), to preserve the debtor´s competitiveness as well as to preserve employment opportunities.
2. What is the deadline for filing my claim in the insolvency proceedings of Arca Investments, a.s.?
The statutory deadline for filing claims in insolvency proceedings is 2 months from the announcement of the insolvency court´s decision on the bankruptcy of Arca Investments, a.s. in the insolvency register. If the end of the two-month period falls on a Saturday, Sunday or public holiday, the last day for filing claims will be the next working day.
The insolvency court´s decision on the bankruptcy of Arca Investments, a.s. was disclosed in the insolvency register on 11 May 2021.
3. Which specific day is the last day of the deadline for filing claims in the insolvency proceedings of Arca Investments, a.s.?
The last day for filing a claim against Arca Investments, a.s. is 12 July 2021.
4. What happens if I don´t file my claim at all or file it late?
Applications that are filed late (i.e. after the deadline for filing claims) are disregarded by the insolvency court and claims filed in this way are not satisfied in the insolvency proceedings. No remission of late filing of claims is possible. In the same way, insolvency proceedings do not satisfy claims that have not been filed in the insolvency proceedings at all.
5. What is the file number of the insolvency proceedings of Arca Investments, a.s.?
Insolvency proceedings are conducted at the Municipal Court in Prague under file No. MSPH 98 INS 723/2021.
6. How should I register my claim in the insolvency proceedings of Arca Investments, a.s.?
An application for filing a claim in insolvency proceedings against Arca Investments, a.s. may be filed exclusively in the form provided for this purpose. The application for a claim in insolvency proceedings against Arca Investments, a.s. must be sent to the Municipal Court in Prague.
The claim application form and instructions on how to fill it in can be found at the following link: https://isir.justice.cz/isir/common/stat.do?kodStranky=FORMULAR.
Creditors who have their habitual residence, domicile or registered office outside the Czech Republic may apply for a claim using the form above (as Czech creditors) or also using the form pursuant to Article 55 of Regulation (EU) No. 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings, which is available at the following link: https://e-justice.europa.eu/content_insolvency-447-cs.do.
7.How should I deliver my claim to the competent insolvency court?
The duly filled in and signed application form (including its annexes) must be delivered to the Municipal Court in Prague. In case of delivery of the application in paper form, it is necessary to deliver the claim application (including its annexes) in two copies.
The application may be delivered to the Municipal Court in Prague in various forms, in particular (i) in paper form in 2 copies, (ii) in electronic form via a data box (Czech creditors or any creditors with a Czech representative who has established a data box), (iii) in electronic form via electronic mail with a guaranteed electronic signature.
Arca Investments, a.s. recommends its creditors to entrust the filing of their claims to an attorney at law or another qualified person who has professional knowledge and practical experience in filing claims in Czech insolvency proceedings.
8. Can I file my claim using any document (letter)?
It is not possible to register a claim by means of any document (letter). An application for filing a claim in insolvency proceedings against Arca Investments, a.s. may be filed exclusively using the designated form, which is published here: https://isir.justice.cz/isir/common/stat.do?kodStranky=FORMULAR
Foreign creditors with their habitual residence, domicile or registered office outside the Czech Republic may also file their claim using the form pursuant to Article 55 of Regulation (EU) No. 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings, which is available here: https://e-justice.europa.eu/content_insolvency-447-cs.do
9. The form in the ISIR is not working. What should I do?
The PDF form must be downloaded to your computer and opened in a current version of Acrobat Reader (version 8 or higher). For convenience, Arca Investments, a.s. has placed the claim application form, as well as instructions on how to complete it, in the Downloadable Documents section.
10. Can I file a claim other than through ISIR? Can I submit a claim by email or by postal mail?
Persons for whom a data box is automatically established must file the claim application, including annexes, in electronic form from their own data box to the court´s data box or in electronic form signed with a recognised electronic signature.
Other persons may also file a claim in paper form (in duplicate) or via the ePodatelna application.
The claim application can also be submitted by email, provided that the email itself or the attached claim application must be accompanied by a recognised electronic signature. Details are set out in the instructions to the claim form.
11. Where can I find instructions on how to fill in the claim form?
Instructions on how to fill in the application form can be found on the insolvency register page here: https://isir.justice.cz/isir/common/stat.do?kodStranky=FORMULAR
Instructions on how to fill in the application form for foreign creditors using the application form under Regulation (EU) No. 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings can be found as part of the application form here: https://e-justice.europa.eu/content_insolvency-447-cs.do
12. Do I have to file the claim again if I have already filed it in the insolvency proceedings of Arca Investments, a.s. before the decision on the insolvency of Arca Investments, a.s.?
If the creditor has already filed his/her claim once in the insolvency proceedings held at the Municipal Court in Prague under file No. MSPH 98 INS 723/2021 (although the creditor did so before the announcement of the decision of the Municipal Court in Prague on the bankruptcy of the company Arca Investments, a.s.), it is not necessary for the creditor to file this claim again.
Creditors can check the delivery of a claim application via the publicly accessible insolvency register in section P here:
https://isir.justice.cz/isir/ueu/evidence_upadcu_detail.do?id=B8EA44C95A4D42D3E05333F21FAC344B
13. Do I have to register the claim again if I have registered it in the legally discontinued insolvency proceedings, file no. MSPH 98 INS 19600/2020?
The insolvency proceedings of the company Arca Investments, a.s. are filed under file No. MSPH 98 INS 723/2021. Therefore, it is possible to file claims exclusively in the insolvency proceedings under file No. MSPH 98 INS 723/2021 and it is also necessary to re-file claims that were filed in the previous insolvency proceedings that have already been legally terminated under file No. MSPH 98 INS 19600/2020 in these proceedings.
14. Can I amend or correct my application?
Creditors may amend or correct their applications themselves until the expiry of the deadline for filing claims. The most appropriate way is to withdraw the original claim application and submit a new (already completed or corrected) claim application, including its annexes.
Substantive deficiencies or incomplete applications are subsequently remedied by the insolvency administrator, who is responsible for the proper verification of the claims applications. If the claim application cannot be examined due to its deficiencies or incompleteness, the insolvency administrator shall invite the creditor to correct or amend the claim within 15 days from the receipt of the insolvency administrator´s invitation to correct/amend the claim application or within a longer period set by the insolvency administrator. If the claim application is not amended or corrected within the deadline, the insolvency administrator shall submit the case to the insolvency court for the insolvency court to decide that the uncorrected/unamended claim application shall not be taken into account.
15. Should I also file a claim that is not yet due (e.g. for holders of promissory notes that have yet to mature)?
Yes, according to the Czech Insolvency Act, it is also possible to file an outstanding or contingent claim in insolvency proceedings.
16. I have several claims. Can I file them under one application?
The appropriate procedure for filing multiple claims (also in terms of efficiency and administrative burden) is to file multiple claims through a single application (one form). The electronic claim filing form is intelligent and user-friendly, allowing the filing of multiple sub-claims (Claim 1, Claim 2, Claim 3, etc.).
17. I have already filed a claim. At the time of filing, my claim was not due but became due later. Do I have to file this claim again?
As a general rule, once a claim has been filed in insolvency proceedings before the Municipal Court in Prague under case No. MSPH 98 INS 723/2021, it is not necessary to file the claim anew. However, it is always necessary to assess on an individual basis how the creditor has filled in the particulars of the notified claim and whether these particulars have changed in the meantime. If the original application shows when the claim is due, it is not considered a defect in the application that at the time of filing the claim the claim was not yet due (and thus was designated as not due) and that the due date occurred only subsequently.
18. Can I file my claim in the local insolvency proceedings of Arca Investments, a.s., which are taking place in the Czech Republic, if I have my permanent residence, place of business or registered office abroad?
The insolvency proceedings conducted by the Municipal Court in Prague under file No. MSPH 98 INS 723/2021 are the only insolvency proceedings against Arca Investments, a.s. All creditors of Arca Investments, a.s., including creditors with their domicile, place of business or registered office in the Slovak Republic or in another country, are to register their claims in the above-mentioned insolvency proceedings.
19. If I am the holder of a promissory note, do I have to submit the original note, or a copy/scan of the promissory note is sufficient?
It follows from the statement of the appointed insolvency administrator that creditors claiming their promissory note claims are obliged to submit the original promissory note to the Municipal Court in Prague and to deposit it in the court´s custody.
Creditors may do so together with the filing of the application or additionally, but no later than the date of the examination hearing set for 25 August 2021. Submission of a copy or scan of the promissory note is not sufficient.
The only case in which it is not necessary to provide the Municipal Court in Prague with the original of the promissory note and to deposit the original of the promissory note in its custody is if the original of the promissory note in question is already deposited in another court custody due to pending court proceedings; in such a case, it is necessary to provide the Municipal Court in Prague with a confirmation that the original of the promissory note is already deposited in another court custody due to pending court proceedings.
The aforementioned statement of the insolvency administrator can be found published in the insolvency register here: https://isir.justice.cz/isir/doc/dokument.PDF?id=47157580
20. Due to capacity constraints, I could not fit all the electronically signed documents into the online application form. How should I proceed?
Arca Investments, a.s. recommends that the attachments to the claim application be in such an electronic format that all attachments can be attached together (at the same time) within one application. If, due to capacity constraints, it is not possible to attach all the annexes to the claim application, the application must be submitted a second time with the remaining annexes and with a clear indication that it is a supplement to the annexes to the application already submitted.
21. In what currency should I file my claim if I have invested in a currency other than CZK?
The claim must be registered in CZK (Czech koruna).
The claim in foreign currency must be converted into Czech currency according to the foreign exchange market rate announced by the Czech National Bank on the date of commencement of the insolvency proceedings (03 January 2021), and if the claim in question became payable earlier (i.e. before the commencement of the insolvency proceedings), the claim must be converted into Czech currency according to the exchange rate announced on the date on which it became payable. For the conversion of claims in foreign currencies for which the Czech National Bank does not announce a foreign exchange market rate, the mid-rate of the central bank of the respective country or the current interbank market rate to the US dollar or to the euro shall be used.
22. How should I state the total amount of the claim? What is considered the principal? What is considered to be ancillary to the claim?
Particularly interest, default interest, late-payment charges and/or the costs associated with the claim shall be ancillary to the claim within the meaning of the legislation. In the insolvency proceedings of Arca Investments, a.s., it is possible to register the ancillaries to the claim that have arisen and have been added to the principal of the claim no later than the date of publication of the decision of the Municipal Court in Prague on the bankruptcy of Arca Investments, a.s. (i.e. until 11 May 2021).
23. Should I file a claim in the insolvency proceedings of Arca Investments, a.s. that I have against its subsidiary/subsubsidiary or another company of the Arca Capital group?
In the restructuring of Arca Investments, a.s., creditors file claims only if they have claims against Arca Investments, a.s. as the main debtor, co-debtor or guarantor.
Creditors of companies other than Arca Investments, a.s., regardless of whether these other companies are related to Arca Investments, a.s. in terms of property or personnel or not, do not file claims in the restructuring of Arca Investments, a.s.
24. Does Arca Investments, a.s. provide creditors with advice and possible control of the correctness of the claim procedure?
Arca Investments, a.s. does not provide individual legal or professional advice to creditors regarding the filing of claims in insolvency proceedings. It also does not provide creditors with control or confirmation of the correctness of the procedure for filing a claim in insolvency proceedings.
Arca Investments, a.s. is committed to helping its creditors navigate the process of filing claims in insolvency proceedings through this Frequently Asked Questions and Answers (FAQs) overview of the ongoing insolvency proceedings. Arca Investments, a.s. regularly supplements this overview of the most frequently asked questions and answers with new answers to new frequently asked questions.
Creditors can use mainly attorneys registered in the list of attorneys maintained by the Czech Bar Association (https://www.cak.cz/) or in the list of attorneys maintained by the Slovak Bar Association (https://www.sak.sk/) for legal advice regarding the filing of claims in the insolvency proceedings of Arca Investments, a.s. Arca Investments, a.s. can recommend to its creditors a law firm with experience in filing claims in Czech and Slovak insolvency proceedings of large companies.
25. Is there an authorized person at the Municipal Court in Prague with whom I can consult any questions I may have regarding the filing of my claim?
Judges, court clerks and other employees of the Municipal Court in Prague do not provide creditors with individual professional advice on filing claims in insolvency proceedings, nor do they provide consultations on issues related to the filing of claims in insolvency proceedings. Nor does any person at the Municipal Court in Prague certify to individual creditors the correctness or completeness of the filing of a claim in insolvency proceedings.