Arca Capital Slovakia, a.s. would like to point out that in the restructuring of Arca Capital Slovakia, a.s., creditors only file their claims if they have claims against Arca Capital Slovakia, a.s. as the main debtor, co-debtor or guarantor.
Claims are not filed by creditors of companies other than Arca Capital Slovakia, a.s., irrespective of whether or not these other companies are related to Arca Capital Slovakia, a.s. in terms of property or personnel. Creditors who have a claim against Arca Investments, a.s. by virtue of a promissory note issued by Arca Investments, a.s. shall not claim in the restructuring of Arca Capital Slovakia, a.s.
Arca Capital Slovakia, a.s. at the same time, points out that the answers to the most frequently asked questions below represent the legal assessment and opinions of Arca Capital Slovakia, a.s., which are of a recommendatory character and no claims can be pursued against Arca Capital Slovakia, a.s. based on these answers.
1. What is restructuring?
Restructuring is the process by which creditors´ claims are collectively satisfied through a restructuring plan. Satisfying creditors´ claims in restructuring is more advantageous for creditors than bankruptcy satisfaction.
2. Why is restructuring more advantageous than bankruptcy?
The debtor is obliged by law in restructuring to offer his creditors better satisfaction than in bankruptcy. This satisfaction must be at least 20% higher for unsecured creditors than would be the case in bankruptcy. At the same time, in restructuring, the satisfaction rate of any of the unsecured claim must be at least 50% of the amount of the unsecured claim in question in the restructuring.
3. What is the date of commencement of the restructuring proceeding of Arca Capital Slovakia, a.s.?
The day of commencement of the restructuring proceeding of Arca Capital Slovakia, a.s. is 02.03.2021. The restructuring proceeding was initiated on the basis of the Resolution of the Bratislava I District Court on the Commencement of the Restructuring Proceedings, which was published in the Obchodný vestník no. 40/2021 of 01.03.2021. The resolution shall enter into force on the day following the day of its publication in the Obchodný vestník.
4. What is the date of the restructuring permit of Arca Capital Slovakia, a.s.?
The day of the permit for the restructuring of Arca Capital Slovakia, a.s. is 13.04.2021. The restructuring was permitted on the basis of the Resolution of the Bratislava I District Court on the Permit for Restructuring, which was published in the Obchodný vestník no. 68/2021 of 12.04.2021. The resolution shall enter into force on the day following the day of its publication in the Obchodný vestník.
5. What is the deadline for filing my claim?
The deadline for filing a claim is 30 calendar days from the date of the restructuring permit. The day of the restructuring permit is the first calendar day following the day of the publication of the Resolution on the Restructuring Permit in the Obchodný vestník. Publication in the Obchodný vestník can be viewed on the website of the Ministry of Justice of the Slovak Republic: https://www.justice.gov.sk/PortalApp/ObchodnyVestnik/Formular/FormulareZverejnene.aspx. In the case of Arca Capital Slovakia, a.s. the date of the restructuring permit is 13.04.2021.
The 30-day deadline for filing claims is the so-called substantive time limit, which means that the application must be delivered to the administrator no later than on the last day of the 30-day period (it is not sufficient to submit it on the last day for postal delivery if the application is sent by post).
The only exception, where the application does not have to be delivered to the administrator no later than on the last day of the 30-day period, is the situation when the last day of this period falls on a Saturday, Sunday, public holiday or other non-working day. In that case, the application shall be deemed to have been delivered on time if it is delivered to the administrator on the next working day following the last day of the 30-day period.
The deadline for foreign creditors is also 30 days, but can vary. It begins with the delivery of a notification from the appointed administrator, that will be sent to any known foreign creditor.
Missing the deadline for submitting claims cannot be forgiven. Late applications will not be considered.
6. Which specific day is the last day of the deadline for filing claims?
Creditors must make their claims by 13.05.2021 (inclusive) at the latest. Missing the deadline for submitting claims cannot be forgiven. Late applications will not be considered.
7. Why is it necessary to file a claim?
The creditor of the registered claim becomes a participant in the restructuring proceeding and at the same time a participant in the restructuring plan, through which the debtor collectively satisfies its creditors in accordance with the conditions for restructuring proceeding stipulated by law.
8. What happens if I do not file my claim at all or apply late?
The claims of creditors who do not register their claims in the manner stipulated by law will become unenforceable against the debtor once the restructuring plan is confirmed. Properly and timely unsecured security rights related to the debtor´s assets also become unenforceable. This also applies to contingent claims that were to be claimed.
9. Where should I register my claim?
The application is submitted in one copy and must be delivered to the appointed administrator. The name and address of the appointed administrator are specified in the Resolution on the Restructuring Permit, published in the Obchodný vestník.
The administrator may be changed during the restructuring. Such a decision is again published in the Obchodný vestník. In the event that there is a change of administrator during the deadline for filing claims, it is not necessary to file the already filed claim application again with the newly appointed administrator. However, new (not yet registered) creditors are obliged to deliver their applications to the newly appointed administrator.
10. Can I supplement or correct already submitted application?
The claim application can be corrected or supplemented only by replacing the original application filed with the administrator by a new application, and only until the deadline for filing claims (i.e. within 30 calendar days from the date of the restructuring permit). The correction or supplementation of the application is thus realised by formally withdrawing the originally filed application and filing a corrected and / or supplemented new application.
11. Should I also register a claim that is not yet due?
It is necessary to register all claims that occurred before the commencement of the restructuring proceeding of Arca Capital Slovakia, a.s., i.e. all claims that occurred before 01.03.2021 (inclusive), regardless of whether these claims are already due or not.
Therefore, creditors should also register for restructuring all outstanding claims to Arca Capital Slovakia, a.s., if these claims occurred no later than March 1, 2021 (inclusive).
Please, note that the decisive point for determining whether a claim is to be registered for restructuring is not the date of the restructuring permit, but the date of the commencement of the restructuring proceeding. The different regime for assessing the moment of origin of a claim applies only to state institutions / creditors whose claims occurred on the basis of public law; in this case, the origin of the claim is defined by a special regulation. In relation to creditors whose claims are claims occurred on the basis of private law relationships (including bondholders), the information set out in the first sentence of this paragraph shall apply.
12. What is the form of the claim application? Can I file my claim via any document (letter)?
The application must be submitted on the prescribed form. Otherwise, the administrator will not take it into account.
You can find the prescribed form on our website here: https://www.arcacapital.com/restrukturalizace-arca-capital-slovakia/restrukturalizace--dokumenty-ke-stazeni, or on the website of the Ministry of Justice of the Slovak Republic here: https://www.justice.gov.sk/Formulare/Stranky/Konkurz-a-restrukturalizacia.aspx
There are two types of prescribed forms (claim applications) in the restructuring:
a) a universal claim application, which is used to file one unsecured claim or one secured claim. This form can be used by both a secured creditor and an unsecured creditor to file his claim. Only one claim can be submitted at a time using this form; and
b) a cumulative claim application, which is used to register several unsecured claims. If the creditor has more unsecured claims, he may use one summary application according to letter b) or more separate universal applications according to letter a);
13. Where can I find instructions for filling the claim application? Instructions for filling the application can be found on our website: https://www.arcacapital.com/userfiles/ikdokumenty/zkladn_pokyny_na_vyplnenie_prihlky_new.pdf
14. What information must the claim application contain?
The basic requirements of the application in accordance with the Bankruptcy and Restructuring Act include:
1. file number (a number of the restructuring proceeding):4R/1/2021;
2. the creditor identification data:
3. debtor identification data:
the name, identification number or other identification data and registered office of the bankrupt, if it is a legal entity, and therefore in our case: Arca Capital Slovakia, a.s., IČO: 35 868 856, sídlo: Plynárenská 7/A, 821 09 Bratislava, Slovenská republika;
4. legal reason for the claim: in this section, the creditor must describe the facts on which the claim submitted for restructuring, occurred, including details. In this section, bondholders should describe what bonds they own (bond name, number, ISIN, nominal value, yield value), and should also describe how and when they acquired the bonds in question. Those facts should be substantiated by the annexes to the application;
5. order of satisfaction of the claim from a general nature: in the case of secured as well as unsecured creditors (including bondholders) who are not related to the debtor, it is necessary to check (tick) box 25e - Other claim;
6. the total amount of the claim, which must be divided into principal and accessories, the accessories must be divided in the application according to the legal reason for origin, and
7. signature.
We emphasize that if any of the above basic requirements of the application is missing, the insolvency administrator will not take the application into account.
Other data in the application are optional (eg telephone number, email, etc.).
15. How do I deliver my claim application to the relevant administrator?
The application must be submitted on the prescribed form. The application must be delivered to the administrator no later than on the last day for filing claims. The application can be delivered to the administrator in the following ways:
a) by post to the address of the administrator´s registered office:
The application delivered to the administrator in paper form by post does not have to be signed by an officially certified signature of the creditor / creditor´s representative (a simple signature is therefore sufficient). It is recommended to send the application to the administrator by registered mail with a delivery note in order for the sender to have proof of delivery of the consignment to the recipient (administrator); or
b) electronically to the administrator´s electronic mailbox:
The application delivered to the administrator electronically to his electronic mailbox must be signed with a guaranteed electronic signature of the person authorised to submit the electronic submission. All annexes to the application must also be signed by a guaranteed electronic signature.
Each creditor may ask the administrator to issue a certificate as to whether his claim has been entered in the list of claims.
16. What is the file number of the restructuring proceeding of Arca Capital Slovakia, a.s.?
The file number of the restructuring procedure and restructuring is 4R/1/2021.
17. I have several claims. Can I apply for them with one application?
If the creditor has more than one secured claim, he must file each secured claim using a separate universal application.
If the creditor has several unsecured claims, the creditor may file these unsecured claims separately using a separate universal application or jointly using the summary application.
If the creditor has one or more secured claims and one or more unsecured claims, then each of the secured claims must be filed by the creditor separately using a separate universal application. With regard to unsecured claims, the creditor may file each of the unsecured claims separately using a separate universal application or he may file all of them together using the summary application.
18. I am a bondholder. Where should I look for the ISIN of the issue?
The ISIN of individual bond issues is stated in the issue conditions / prospectuses of individual bonds. The terms and conditions and prospectuses of the bonds are publicly available documents published on the website of the issuer of the bonds.
If the creditor (bondholder) has procured the bonds through a securities dealer or bank, the ISIN of the relevant bond issue is also given on the Instruction for the Acquisition of a Security, or on the Confirmation of the Execution of the Instruction for the Acquisition of a Security.
19. I own a bond / bonds that I have acquired through a securities dealer. From whom should I request an account statement, a commission agreement and other documentation related to the procurement of bonds?
Arca Capital Slovakia, a.s. does not have the documentation on the basis of which individual bondholders procured their bonds through a securities dealer. An account statement, a commission agreement, securities procurement instructions, confirmation of the execution of securities procurement instructions, as well as other documentation related to the procurement of bonds, should be obtained from the relevant securities dealer by the bondholders.
20. Can I file my claim for the restructuring of Arca Capital Slovakia, a.s., which takes place in the territory of the Slovak Republic, if I have a permanent residence, place of business or registered office abroad?
All creditors of Arca Capital Slovakia, a.s., file their claims for the restructuring of Arca Capital Slovakia, a.s., regardless of their permanent residence, place of business or registered office.
In the case of foreign creditors with a registered office, place of business or permanent residence outside the territory of the Slovak Republic, the foreign creditors are obliged to appoint a representative for documents delivery with a residence or registered office in the Slovak Republic and to notify the administrator in writing of the appointment. Otherwise, foreign creditors who do not have an appointed representative for delivery of documents with a residence or registered office in the territory of the Slovak Republic, will be served documents only by retrieving the documents from the Obchodný vestník.
21. Should I file for the restructuring of Arca Capital Slovakia, a.s. a claim that I have against its daughter/grandchild or another company of the Arca Capital Group? Should I file my promissory note claim against Arca Investments, a.s. in the restructuring of Arca Capital Slovakia, a.s.?
In the restructuring of Arca Capital Slovakia, a.s., creditors should file their claims only if they have claims against Arca Capital Slovakia, a.s. as the main debtor, co-debtor or guarantor.
Creditors of companies other than Arca Capital Slovakia, a.s., regardless of whether these other companies are financially or personally related to Arca Capital Slovakia, a.s. or not, do not file claims for the restructuring of Arca Capital Slovakia, a.s.. Creditors who have a claim against Arca Investments, a.s. on the basis of a promissory note issued by Arca Investments, a.s. shall not claim in the restructuring of Arca Capital Slovakia, a.s.
22. The application shall state the total amount of the claim, which shall be divided into the principal and the accessories, the latter shall be divided according to the legal reason of origin of the accessories. What is considered to be accessories to the claim?
Interest, default interest, default fee and costs associated with the claim are accessories to the claim according to the Civil Code. In the case of bondholders, the proceeds (the coupon) in the amount resulting from the Prospectus/Terms and Conditions of Issue of the Bonds are in particular accessories to the claim. In the claim application, it should be stated that the legal basis for the proceeds (the coupon) as an accessory to the Bonds is the Terms and Conditions of the Bonds Issue.
It is possible to file for restructuring of Arca Capital Slovakia, a.s. the accessories of claims, which occurred no later than 01.03.2021 (i.e. the day preceding the commencement of the restructuring proceeding of Arca Capital Slovakia, a.s.). Pursuant to the Bankruptcy and Restructuring Act, the accessories of registered claims to which a claim occurred after the commencement of the restructuring proceeding are not included in the restructuring plan, as these claims are considered to be forgiven in full once the restructuring plan is confirmed by the court.
23. I am the owner of bonds issued by Nova Green Finance, a.s. or Nova Real Estate Finance, a. s.. Should I register my claims in respect of these bonds in course of the restructuring of Arca Capital Slovakia, a.s.?
Nova Green Finance, a.s. and Nova Real Estate Finance, a.s. have published statements on their websites saying that, given their financial situation, there is a reasonable expectation that these companies will not be able to meet their obligations in respect of the bonds issued by Nova Green Finance, a.s. and Nova Real Estate Finance, a. s.
If you are the owner of any of these bonds:
then Arca Capital Slovakia, a.s. recommends that you properly and timely register your claims arising from these bonds in the restructuring process of Arca Capital Slovakia, a.s.
24. I am the owner of bonds issued by Arca Capital Slovakia, a.s. Will Arca Capital Slovakia, a.s. provide me with a confirmation of the status of my account, i.e. confirmation of what type and what number of bond(s) do I own?
Arca Capital Slovakia, a.s. is unable to issue an account statement or any other confirmation of the status of the bondholder´s account. Arca Capital Slovakia, a.s. does not have records on the basis of which it could provide individual bondholders with account statements or other confirmations of the status of the bondholder´s account.
Account statements and confirmations as to what type of bond(s) and what number of bonds are held by a particular bondholder of a bond issued by Arca Capital Slovakia, a.s. can only be provided by the securities dealer through whom the bondholders have procured the individual bond(s). The securities trader is Arca Brokerage House o.c.p. a.s., with registered office at Plynárenská 7/A, 824 63 Bratislava, ID No.: 35 871 211. Despite the similarity of the business names, Arca Capital Slovakia, a.s. and Arca Brokerage House o.c.p. a.s. are two different companies with different ownership and management structures. Arca Brokerage House o.c.p. a.s. is not a part of the Arca Capital group.
25. I am an owner of bonds issued by Nova Green Finance, a.s. or Nova Real Estate Finance, a. s. Will Arca Capital Slovakia, a.s., Nova Green Finance, a.s. or Nova Real Estate Finance, a. s. provide me with a confirmation of the status of my account, i.e. a confirmation of the type of bond(s) and the number of bonds I own?
Neither Arca Capital Slovakia, a.s. nor Nova Green Finance, a.s. / Nova Real Estate Finance, a. s. are not able to provide bondholders with bondholder´s account statements or other confirmations of the bondholder´s account status. Neither Arca Capital Slovakia, a.s. nor Nova Green Finance, a.s. / Nova Real Estate Finance, a. s. do not have records on the basis of which they would be able to provide individual bondholders with account statements or other confirmations of the bondholder´s account status.
Account statements and confirmations as to the type and number of bonds held by a particular bondholder of a bond issued by Nova Green Finance, a.s. or Nova Real Estate Finance, a.s. can only be provided by the securities dealer through whom the bondholders purchased the individual bonds. This securities dealer is Arca Brokerage House o.c.p. a.s., with registered office at Plynárenská 7/A, 824 63 Bratislava, ID No.: 35 871 211.