E Side Property, the owner of Slavia Eden Football stadium in Prague, is facing bankruptcy. The company’s inability to meet its liabilities has become a serious concern for a number of various companies and Prague districts which invested in it, including Prague 6 and Prague 10. Their exposure to the E Side Property comes via bonds bought for them by Key Investments. E Side claims it’s gone through the first phase of restructuring, revaluing its assets and changing its business plan in cooperation with PricewaterhouseCoopers.
There are three scenarios in which the bondholders could recoup their investment, writes the economic daily Hospodářské noviny: E Side declares bankruptcy; its owner Natland injects capital in it; or it finds an investor who will buy the stadium in Eden and assume the debts, that originated from investments into the stadium.
