14:59 29 July 2025
HREIT on verge of bankruptcy, court-appointed admin may step in
Temporary Court Supervisor Marcin Kubiczek has requested that the Warsaw District Court change the asset protection measures for HREIT S.A. by appointing a compulsory administrator. He claims the company ignores his instructions, fails to provide required documentation—including a list of liabilities—and disposes of assets without supervision. An example is the Merliniego Apartments investment, where property was transferred as collateral, potentially depleting HREIT’s assets.
Kubiczek compares the case to the GetBack scandal, citing opaque cash flows, potential misselling of high-risk instruments to unaware individuals, and barter-based settlements harming creditors. HREIT remains deeply insolvent, with uncollected loans of PLN 516 million and unassessed assets. Kubiczek insists that only direct control over HREIT’s subsidiaries can protect creditor interests.
