PRAGUE/BRATISLAVA – Arca Capital Group strongly objects to media attacks, which are led in the media by its former shareholder Pavol Krupa. We view such actions by him as a deliberate attempt to thwart entrance of an investor into Arca Capital Group, to scare off creditors with the aim of achieving bargain purchase of receivables against Arca Capital Group.
Arca Capital Group hereby, represented by Ing. Rastislav Velic, Chairman of the Board of Directors of the parent company Arca Investments, a.s., reacts to the media attacks which are recently led intentionally and with the apparent aim in relations to the declaration of moratorium or temporary protection against creditors, against the parent company.
The main person behind this media campaign is a former shareholder and founder of the company Ing. Pavol Krupa. His attacks are led with support of a claim about his alleged receivables against Arca Capital Group. As a matter of fact, Pavol Krupa himself is a significant debtor of Arca Capital Group and part of Arca Capital Group creditors will be able to get satisfied directly from receivables against Ing. Pavol Krupa, unless he pays his financial obligations duly and on time. His personal effort to disparage current effort of finding the best and most suitable solution to satisfy obligations of Arca Capital Group is hence evidently led with the aim to prevent or making it hard to claim receivables in large amounts against himself. The stated apparent and intentional actions harming Arca Capital Group by Pavol Krupa, against which the Arca Capital Group is prepared to fight by all available legal means, is not a surprise since Pavol Krupa was labelled as untrustworthy person in 2017 by Czech National Bank for his own serious delicts caused by companies controlled by him at that time, see link: http://docplayer.cz/104866005-R-o-z-h-o-d-n-u-t-i-o-d-u-v-o-d-n-e-n-i.html.
Arca Capital Group perceives, that Pavol Krupa among other things aims to motivate competing financial entities, while we can only speculate about their real motivation in the subject matter. However, it is possible to assume that their goal is certainly not the protection of interests of all creditors but rather bargain purchase of receivables against Arca Capital Group, while the offered price shall not represent the value of Arca Capital Group´s assets, since the receivables of individual creditors may be paid from sale or administration in full or in part.
Arca Capital currently owns and administers vast diverse asset portfolio which is concentrated in various companies across different industries in the form of share ownerships, such as: car industry, energy, health sector, real-estate, financial services, job agencies, accommodation and tourism services. The mentioned asset portfolio was intentionally built so diversely with the purpose of making Arca Capital Group resistant to any changes on markets and such that the investors´ deposits who have been investing their savings with trust into Arca Capital Group for a decade looking for appreciation, were protected.
Regrettably, the most highly unpredictable and by its scale extraordinary pandemic Covid-19 hit the economy worldwide, including Czech and Slovak Republic in such a way that economies of states were literally „shut-down“ and in reality it was unable to continue doing business practically in any of the stated industries. This led to a situation where Arca Investments, a.s., parent company of Arca Capital Group was forced to request moratorium or temporary protection against creditors.
The declared moratorium or temporary protection against creditors does not mean in any case that Arca Capital Group does not have the intention to fulfil its obligations against all creditors – rather the contrary, it is working on preparation of re-organisation or restructuring plan with due care, which will enable the parent company and the whole Arca Capital Group to find solution in relations to payments of receivables of creditors, partially or in full. The final way of satisfaction of all creditors is thus dependent on preparation of detailed re-organisation or restructuring plan, which shall enable such sale or administration of assets that will ensure gradual satisfaction of all creditors with the preliminary range between 50-100% depending on requests by creditors for their satisfaction in time.
The stated assumption may be significantly amended and receivables of creditors may be satisfied faster, as long as entrance of a new investor into Arca Capital Group shall be successfully concluded, whose aim will not be to preferentially buy cheap receivables from individual creditors but rather to stabilise Arca Capital Group for a long term and utilisation of its asset potential to such an extent that will enable satisfaction of receivables of individual creditors followed by growth of the whole group.