Judge Pavel Janout ve published The decision was justified by the fact that the extension of the moratorium would no longer significantly improve Arca Capital Bohemia’s financial situation. The company has been in the regime of extraordinary protection from creditors since the end of August. The company requested an extension for another three months on Monday. The company demanded an extension of the moratorium due to the adverse effects of the second wave of coronavirus on companies and funds in the group.
Arca Capital Bohemia belongs to the Arca Capital group. It is currently facing high debt. The partnership with the London company Blantyre Capital has helped the company.
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Until 2018, Pavol Krúpa was also the leading face and shareholder of Arca Capital. Then he left most of the positions in the group in favor of businessman Rastislav Velič. This year, their conflict flared up. Krúpa and Velič accuse each other of damaging the company and throw each other receivables worth tens of millions of crowns.
Krupa’s company Krupa Global Investments welcomed the current court verdict. “The court supported KGI’s belief that the moratorium on Arca Capital Bohemia was only purposeful and had not served its function since its inception, as reflected in the court’s ruling, which draws attention to the situation of the debtor ACB, which cannot improve and should be addressed way than by artificially prolonging the moratorium, “said KGI spokeswoman Barbora Hanáková. “KGI, as a creditor who has a claim on ACB’s debtor overdue for more than three months, expects ACB’s debtor, in view of its claims, to be able to pay all its due liabilities to the creditors immediately,” she added. Arca Capital Bohemia has not yet responded to the end of the moratorium.
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Krúpa tried to achieve the lifting of the Arca Capital Bohemia moratorium before it expired. However, he did not go to court. Among other things, with the judge pointing to the impending end of the moratorium. Krupa only partially celebrated the success of the appointment preliminary insolvency administrator. However, the court after three weeks recalled.
The case of Arca Capital Bohemia is the first in which the court did not grant a company enjoying extraordinary protection from creditors regarding a request to extend the moratorium for another three months. In the last week, for example, the related airlines Smartwings and CSA, the travel agency Firo-tour or the men’s clothing manufacturer Blažek Praha have successfully extended the extraordinary moratorium.
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