Getback ignites the emotions of analysts and investors
It should be emphasized that 9,064 of these were individuals who purchased bonds that were eagerly advertised by intermediary banks. The Polish Financial Supervision Authority (KNF) announced that it has taken steps to investigate the involvement of individual financial institutions in offering Getback bonds and any irregularities that may have occurred during the sales process.
The company is currently experiencing significant financial difficulties, but it should be noted that the rating of the offered bonds at the time of their sale was already low, hovering around a “B” rating, indicating relatively risky securities. The company’s problems are further fueled by false statements from its management about alleged discussions regarding financial support with partners from the Polish Development Fund (PFR) and PKO BP, which were denied by these institutions.
What next for Getback’s creditors? Were the valuations of the company’s potential accurate? Were the presented bonds evaluated and sold in compliance with all procedures? There is a significant risk of abuse or even fraud, which could lead to lawsuits. IEG has the experience and knowledge necessary to support such proceedings.
