Sector: Financial Services (NPL purchasing)
Main location: Wroclaw, Poland
Investment date: June 2016
Investment cost: II
In June 2015, Abris has invested in this debt purchase business with operations in both Poland and Romania.
GetBack has three principle business lines:
- Recovery of loan portfolios which are purchased on GetBack’s own balance sheet. These are typically acquired from banks through either an auction or negotiation process.
- Service and recovery of loan portfolios acquired with third-party funding provided by high net worth individuals (HNWIs). GetBack purchases NPL portfolios on behalf of externally managed funds which have been subscribed by Polish HNWIs.
- Service and recovery of loan portfolios acquired with third-party funding provided by institutional investors, both
As a result of several unfavorable events occurring in 2017 and 2018, the management board has applied for the accelerated restructuring procedure, which was opened by the Wroclaw District Court On 8th May 2018.
The Court approved the Debt Restructuring Arrangements on 6th June 2019 and this decision became fully binding on 26th February 2020.