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3 investors show interest in GetBack's assets

Three potential investors expressed interest in acquiring the assets of financially troubled Polish debt collector GetBack SA, and the offers will now be considered by the company's creditors council.

The next stage will be to select one or several potential buyers to engage in further negotiations, the company said Oct. 4. GetBack's head, Przemysław Dąbrowski, noted that the sale of the assets to an investor would significantly speed up the repayment of financial obligations to the company's bondholders.

GetBack hopes to finalize the sale of its assets by the end of 2018, although the deadline may be extended, the company noted.

More than 9,000 retail investors had acquired the debt collector's bonds prior to its collapse, and Poland's Financial Supervision Authority had launched a probe into the company's operations in April. GetBack filed to initiate restructuring proceedings in May, and its creditors will vote on restructuring proposals in October.