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The first bankruptcy of a Polish bank

On 30 December 2015 the District Court for the Capital City Warsaw X Division of Bankruptcy, at the request of the Polish Financial Supervision Authority, announced bankruptcy with the possibility of concluding an arrangement of Spółdzielczy Bank Rzemiosła i Rolnictwa in Wolomin. The basis for the declaration of bankruptcy was a statement by the Court of positive evidence for bankruptcy, i.e. the insolvency of the debtor (the difference between assets and liabilities amounted to approximately - 1.3 billion zloty) and failing to hold the occurrence of negative evidence to file for bankruptcy, i.e. lack of a debtor's assets sufficient to meet costs of bankruptcy proceeding.

It is worth noting that this is the first in the history bankruptcy of the Polish bank. The case will be certainly a precedent, and before the Court is undoubtedly a difficult task to reconcile the interests of institutional creditors (e.g. NBP) and private bank customers, many of whom have located in this bank all their savings.

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