BRATISLAVA / 09 June 2022 – The District Court Bratislava I granted the proposal of Arca Capital Slovakia, a.s. and confirmed its restructuring plan. The Court concluded that the restructuring plan was in line with the collective interest of the creditors and provides them with significantly higher satisfaction than in bankruptcy.
By the Order dated 08 June 2022, the District Court Bratislava I upheld the restructuring plan of Arca Capital Slovakia, a.s. and concluded that the conditions for its confirmation and replacement of the consent of the groups of creditors who did not approve the plan were met. In a broad statement, the Court emphasized that the restructuring plan fulfills the purpose of restructuring: "...the Court concluded that the restructuring plan is in line with the Act on Bankruptcy and Restructuring and the collective interest of the creditors as it fulfills the purpose and meaning of the restructuring, therefore it replaced the consent of the creditors in groups 14, 15, 16, 21 by its decision and confirmed the restructuring plan."
The Court found that the restructuring plan of Arca Capital Slovakia, a.s. is definite and comprehensible and it is the basis for significantly better satisfaction of creditors than they would achieve in the event of bankruptcy. At the same time, the Court agreed with the arguments of Arca Capital Slovakia, a.s. on the real sustainability of the restructuring plan.
Arca Capital Slovakia, a.s. perceives the decision of the District Court Bratislava I on the approval of the restructuring plan positively, but at the same time is aware of the resulting responsibility.
The highest interest of Arca Capital Slovakia, a.s. is the fulfilment of the restructuring plan in accordance with the set timetable and extent of satisfaction.