Locked content GetBack proposes to pay bondholders 31%

Troubled debt collector GetBack updated arrangement proposal with bondholders and offered to pay 31 percent instead of earlier planned 27 percent. The adjusted proposal is based on an assessment of the company’s current financial condition and takes into account a lack of investor, ongoing neg...

Locked content Shareholders to decide whether GetBack will exist

On August 27 shareholders of the troubled debt collector GetBack will vote whether the company should still exist, according to the annual general meeting (AGM) agenda. In addition, shareholders will vote on approval of financial statements for 2017, the method of covering 2017 loss and granting dis...

Locked content GetBack postpones Q1 report indefinitely

Troubled WSE-listed debt collector GetBack has postponed the publication of its Q1 results without specifying the new date. Initially, the report was scheduled to be released on July 23. Furthermore, the district court in Wrocław, scheduled a meeting of the company’s creditors for August 28 in order...

Locked content GetBack starts evaluating strategic options

Troubled debt collector GetBack started considering strategic options aimed at improving operations of the company and group. GetBack considers various options such as converting debt into share capital, share capital increase, the sale of in individual assets, the sale of asset classes, and the acq...

Locked content Trigon TFI terminates contract with GetBack

Investment Fund Trigon TFI terminated a contract with GetBack for the management of debt portfolios under the nine Trigon Profit funds. In the coming days, Trigon TFI intends to sign agreements on the management of those debt portfolios with new entities, the company said in a statement. Trigon TFI ...

Locked content Three-month arrest for two detained in GetBack case

District Court for Warsaw-Śródmieście decided on a three-month arrest for two people detained by Central Anticorruption Bureau (CBA) suspected in GetBack case. The court evaluates cases of two other people. Regarding the fifth detained person the prosecutor’s office decided that financial guar...

Locked content GetBack liabilities at PLN 3.32 bln

GetBack balance sheet liabilities stood at PLN 3.32 billion, while in the application for opening of the accelerated arrangement proceedings the liabilities were registered at PLN 2.82 billion, the company reported. Credit and trade liabilities have been verified, conditional liabilities (guarantees...

Locked content CBA apprehends former CEO of GetBack

The former CEO of GetBack Konrad K. was detained by the anti-corruption bureau CBA regarding corruption charges, by order of the public prosecutor’s office in Warsaw. Ewa Bialik, the spokesman for the prosecutor’s office, said that the charges relate, among others, to committing fraud to...

Locked content GetBack CEO sees chance to return to development in 2-3 years

GetBack management sees for the company a chance of returning to the development in 2-3 years. The proposals presented in the restructuring plan may change and the company is open to attract a strategic investor, but currently, nobody is interested, company CEO Przemysław Dąbrowski said. In Dąbrowsk...

Locked content GetBack will verify restructuring plan within 2-3 months

GetBack, which released unaudited results for 2017, estimates that it will review the restructuring plan presented earlier in 2-3 months’ time. The company is working towards reducing costs. In the first quarter it will continue cleaning its balance sheet, GetBack representatives said on Wedne...