Locked content GetBack bondholders appeal against UOKiK fine

GetBack bondholders appealed to the President of Office of Competition and Consumer Protection (UOKiK) for a full cancellation of PLN 5.05 million fine imposed on the company. “If the decision about the penalty is upheld and executed, it will cause damage to the main victims of the case – unse...

Locked content UOKiK imposes fines on GetBack and Vex

Office of Competition and Consumer Protection (UOKiK) imposed fines on debt collectors GetBack and Vex for improper practices related to the recovery of debts. “The proceedings against GetBack debt collection practices began at the end of 2016. Ten practices related to debt collection caused U...

Locked content Former Altus CEO leaves jail with record-high bond

Piotr Osiecki, the former CEO of asset manager Altus TFI Piotr Osiecki was allowed to leave arrest after posting the record-high bail of PLN 108 million, the Warsaw district court decided. Former management board member Jakub Ryba was also granted the release with PLN 1 million bail. Both men were d...

Locked content Hoist Finance plans to file offer for GetBack assets

Debt collector Hoist Finance AB plans to submit an offer for GetBack assets, Hoist Finance informed. “We see opportunities for mergers and acquisitions in other countries, ex. on the Polish market, where we intend to submit a bid for GetBack assets”, the company wrote. At the beginning o...

Locked content GetBack should file additional arrangement proposals by Nov. 6

The court required GetBack to submit additional versions of arrangement proposals by November 6. The company also has to deposit PLN 30 million as security to possible investment agreement. The voting on arrangement proposals has been postponed. The new term will be communicated after November 6 and...

Locked content GetBack with new offers to bondholders

WSE-listed debt collector GetBack put forward a new offer to its debtor increasing the cash installments to 38 percent from the previous 31 percent. The remainder of the debt would be paid in equity conversion. The company proposes that the repayment of the bondholders will take place in sixteen ins...

Locked content GetBack reports H1 prelim. net loss of PLN 1.12 bln

GetBack preliminary net loss in H1 amounted to about PLN 1.12 billion compared to profit of PLN 111.6 million a year ago, the company reported. Operating loss in H1 stood at PLN 826.8 million compared to profit of PLN 156.1 million a year ago. The group recorded negative net revenue of PLN 392 milli...

Locked content GetBack receives three offers for selected assets

By October 4 GetBack has received three offers for purchase of selected company assets, including offers to buy debt portfolios, GetBack said in a statement. According to the board, the offers are in line with the company’s need for rehabilitation. The offers will be presented to CreditorsR...

Locked content Esaliens TFI withdraws from merger with Altus TFI

WSE-listed fund manager Altus TFI will not be merging with Esaliens TFI after the latter withdrew from the plan. According to Esaliens, its shareholders would not approve such decision given the current situation, Altus said in a market filing. Both companies signed a preliminary deal back in June w...