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On Tuesday, the Court Bailiff at the District Court for the capital city of Warsaw in Warsaw informed the representatives of Getin Holding SA “about the seizure of property rights in the form of financial instruments recorded in a securities account or another account within the meaning of the provisions on trading in financial instruments.”
At the end of last year, the bankruptcy trustee of Idea Bank, Marcin Kubiczek, filed a lawsuit in which he demands from Leszek Czarnecki and LC Corp – Czarnecki has all the shares in this company – a total of just under one billion zlotys. This amount, as the trustee explains, would constitute the value of the assets in the bankruptcy estate of Idea Bank if it still controlled VB Leasing (formerly Idea Getin Leasing).
“The seizure takes place up to the amount of the secured amount in respect of rights from financial instruments held by:
The total amount due amounts to just under one billion zlotys (PLN 967,667,661.36). The amount was estimated by PwC. One part of it refers to 2020, when Idea Bank was subject to compulsory restructuring for the amount of PLN 865.8 million. The remaining PLN 102 million are dividends for the years 2019-2022, which Czarnecki and LC Corp collected from the company. The trustee maintains that this amount should be transferred to the bank’s accounts.
– This is another court decision confirming the validity of the trustee’s claims in the VB Leasing case. Leszek Czarnecki and his company illegally appropriated shares in VBL. Current actions – dividend payment from Getin Holding – confirm that Leszek Czarnecki is withdrawing assets from Poland. That’s why I initiated the bailiff’s actions to enforce the court’s decision – explains Kubiczek.
According to the trustee’s findings, Czarnecki took over one quarter of Idea Leasing’s shares in 2017, which was illegal. In March, the trustee wrote in an application submitted to the court that “Leszek Czarnecki’s company first sold its Getin Leasing company to Idea Bank’s daughter at too high a price, and then bought control over the merged Idea Bank from the Bank too cheaply (and on a loan granted without the consent of the Bank’s general meeting!) Leasing and Getin Leasing. According to Kubiczek’s assessment, Czarnecki controlled the leasing company at a low price.
The case has been ongoing for many months. In October 2022, the Warsaw District Court agreed to secure just over half of the VB Leasing shares, which prevents Czarnecki’s company from selling them. In turn, in February 2023, the trustee submitted a notification to the Warsaw prosecutor’s office about the possibility of Leszek Czarnecki causing multi-million damage to the bank in connection with transactions related to VB Leasing.
Bailiff seizure has not been Czarnecki’s only problem lately. The businessman was requested by the National Bank of Ukraine to sell shares in Idea Bank Ukraina. The reasons included, among others: “infringement of Leszek Czarnecki’s business reputation.” The NBU gives the Polish businessman six months to fulfill this obligation. We wrote more about it here.
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