Arca Investments applied for protection under the so-called lex corona, a Slovak law that aims to provide companies with temporary protection against the negative effects of a coronavirus pandemic. The law is intended to prevent the domino effect on companies affected by temporary insolvency. During the protection period, companies cannot fully dispose of their property.
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“The aim of this step is to use the time under temporary protection to prepare an internal reorganization of the company and a plan to satisfy creditors. She also said that the process will not negatively affect the operation of key projects of the group and its subsidiaries Arca Capital, which remain fully operational.
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The Arca Group, whose assets according to available information amount to 2.3 billion euros (approximately 62 billion crowns), for example, in April this year announced the purchase of about half of the stake in the Czech real estate company M&M Reality. The group operates mainly in Central and Eastern Europe. The majority shareholder is Rastislav Velič.
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