Court declares Idea Bank bankrupt

Court declares Idea Bank bankrupt

The order declaring Idea Bank bankrupt was issued by the Warsaw District Court on July 26. It applies to the part of the bank’s business that was not taken over by Pekao.

Marcin Kubiczek, the bankruptcy trustee, called on creditors to report their claims to him electronically, through the National Register of Debtors (KRZ). There are 30 days to do so from the moment the bankruptcy order is announced. The trustee will decide on the legitimacy of the reported claims. The judge-commissioner and the bankruptcy court will then deal with it.

With that said, the declared bankruptcy applies only to Idea Bank’s business, which was not taken over by Pekao Bank. This occurred in January 2021 as a result of a forced restructuring that was initiated due to Idea Bank’s bad situation. Pekao then took over selected liabilities of Idea Bank. What was not taken over, however, were liabilities from, among others, GetBack bonds that Idea Bank offered to its customers.


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