Compulsory restructuring of PBS in Sanok

Compulsory restructuring of PBS in Sanok

Compulsory restructuring initiated against Podkarpackiego Banku Spółdzielczego in Sanok was legal.

Such a decision was issued by the Provincial Administrative Court (WSA) in Warsaw on the appeal against the decision of the Bank Guarantee Fund (BFG) by the Supervisory Board of PBS in Sanok.

The decision of BFG on compulsory restructuring was made in January last year with the participation of Bank Nowy BFG S.A.

The BFG argued that such a decision was made due to the bad financial situation of PBS in Sanok. A similar position was also expressed by the Polish Financial Supervision Authority (KNF). However, in the opinion of the Supervisory Board of Bank Spółdzielczy, remedial measures were taken in relation to the Bank, which were hoped to improve the situation. Such a conviction prompted the Supervisory Board to appeal against the BGF’s decision. The dismissal of this complaint by the Provincial Administrative Court is tantamount to agreeing the BFG and the KNF.

Source: https://esanok.pl/2021/przymusowa-restrukturyzacja-pbs-zgodna-z-prawem-skarga-rady-nadzorczej-odrzucona-00e4dm.html

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