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!

Running fever! 15th edition of Rossmann Run in Łódź fully booked

The 15th edition of the Rossmann Run will take place on Saturday 27th of May. A few days ahead

Read More...

Stand-Up Comedy in English. Famous Jim Williams returns to Łódź

Following the great success of the first event, which was held at Klub Szafa on the 20th of April,

Read More...

Following bomb attack in Manchester, Ariana Grande suspends tour, including Łódź concert

Following last night’s terrorist bombing attack during a concert by American singer Ariana Grande at the Manchester Arena, Grande

Read More...

Leave a reply:

Your email address will not be published.

Time limit is exhausted. Please reload the CAPTCHA.

Mobile Sliding Menu