There is no universally correct choice — only the choice that fits your documentation, the issuer's situation and your tolerance for time and uncertainty. This framework structures the decision.
When waiting makes sense
When the issuer communicates specifically, still performs partly and there is a verifiable plan with dates.
Waiting should have its own deadline after which you reassess.
When enforcing makes sense
When the documentation is complete, the claim well evidenced and recovery realistically achievable.
Enforcement assumes willingness to bear costs over a multi-year horizon.
When settlement makes sense
When a holder prefers certainty today over uncertain future performance, or does not want the cost and burden of enforcement.
Typically for claims with a long expected horizon or a higher degree of uncertainty.
Four questions that decide
Write the answers down; the decision becomes markedly clearer.
- How complete is my documentation?
- What horizon am I willing to accept?
- How much am I willing to invest in enforcement?
- How well do I tolerate outcome uncertainty?
The choice between waiting, enforcing and selling cannot be made in the abstract — it can be made against the numbers of your specific issue. Send us the issue identification and your documents; we will show you, free of charge and without obligation, whether a buy-out makes sense today or whether waiting for a specific milestone is the better call.
This text is general information for bondholders. It is not legal advice and not an investment recommendation. Capital Investing Ventures a.s. is not a law firm. Any individual assessment depends on the specific documentation and circumstances of the case.