Reuters: Abris fund sues Poland for $600 mln over forced bank sale

In Polish News

(Reuters) – Central European private equity fund Abris Capital Partners said it was suing Poland for at least 2 billion zlotys ($597 million), alleging it was going to incur losses after the state forced it to sell its small local lender FM Bank PBP.

Poland’s financial watchdog KNF ruled in April the fund failed to meet its commitments as an investor in FM Bank. The watchdog stripped the fund of all its voting rights in the bank and ordered it to sell the business by April next year.

The suit, lodged with the Arbitration Institute of the Stockholm Chamber of Commerce, is potentially embarrassing for Poland, which sees itself as a model of fair and impartial financial regulation in eastern Europe.

Read the story here

You may also read!

Łódź remembers Jan Karski on 103rd anniversary

On the occasion of the 103rd anniversary of Jan Karski’s birth, city officials laid flowers at the Jan Karski

Read More...

Improved and friendlier square in front of Marshall’s office in Łódź (Photos)

Construction work on the square in front of the Marshall’s office in Łódź has been completed. The square in

Read More...

Kenya’s Samson Barmao wins DOZ Marathon in Łódź (Photos)

Kenyan Samson Barmao in the men’s category and Algerian Kenza Dahmani in the women’s won the Łódź Marathon held

Read More...

Leave a reply:

Your email address will not be published.

Time limit is exhausted. Please reload the CAPTCHA.

Mobile Sliding Menu