The Bank Guarantee Fund (BFG) on April 28 filed an application with the court to declare Getin Noble Bank (GNB) bankrupt, the Fund said.
This is another standard stage of the forced restructuring procedure, and the Fund has thus fulfilled its obligation in this regard imposed by the European Commission. The filing of the application does not in any way affect the situation of VeloBank S.A., the bank’s customers or the security of funds held there. The application also does not affect the situation of those who have a foreign currency loan with Getin Noble Bank S.A.
Until bankruptcy is declared, the bank will invariably be managed by an administrator appointed by the BGF. After the court declares bankruptcy, the bank’s creditors will be able to submit claims to the bankruptcy estate, it also indicated.
It was also recalled that on September 30, 2022. The BFG initiated forced restructuring against Getin Noble Bank, as all statutory prerequisites were met, including the threat of bankruptcy, which was the only alternative to forced restructuring.
At the end of September 2022, the Board of Directors of the Stock Exchange excluded Getin Noble Bank’s shares from trading.
The Getin Noble Bank resolution procedure resulted in the creation of VeloBank, which is controlled by the Bank Guarantee Fund. The bank’s assets amount to PLN 40 billion.
Source: BFG and ISBnews
