District Court for the Capital City of Of Warsaw in Warsaw, the 18th Commercial Division for bankruptcy and restructuring cases announced the bankruptcy of Open Finance, the company said. The court appointed a trustee in the person of Paweł Andrzej Głodek (license number 657).
The decision on the declaration of bankruptcy of Open Finance is not final, however, it is effective and enforceable on the day of its issuance, stated in the announcement.
In December 2021, the management board of Open Finance submitted to the District Court for the Capital City of Warsaw in Warsaw, 18th Commercial Division for Bankruptcy and Restructuring, bankruptcy petition. The reason was a significant deterioration of the company’s financial situation, too low revenues, which do not cover the costs incurred by the company, and the lack of prospects related to obtaining financing that would allow the company to operate in the coming months.
In April this year. the company announced that the Polish Financial Supervision Authority revoked its permit to operate in the field of mortgage brokerage.
Open Finance is the largest financial advisory company on the Polish market. The company made its debut on the WSE in 2011.
Source: ISBnews
