GetBack with a legally approved agreement
The District Court in Wrocław dismissed the last complaint against the decision to approve the GetBack arrangement with creditors. This means that the decision of the District Court for Wrocław-Fabryczna of 6 June 2019 to approve the arrangement became final on 24 February 2020.
Under the agreement, bondholders will receive 25% of the funds paid in eight years. The company informed that the first payments will be made within the next few months, i.e. much earlier than assumed in the agreement.
During the restructuring process, the company held talks with creditors, reduced operating costs, and negotiated with potential buyers of some portfolios.
Source: alebank.pl/getback-restructuring progress-zakończczylo-sie-uklad-stal-sie-pomocny/