Clifford Chance's Warsaw office has represented Hoist Finance, a Swedish financial services company active in nine European countries, on its acquisition of non-performing loans from Polish company GetBack. K&L Gates advised GetBack on the sale.
According to Clifford Chance, Hoist Finance has submitted an offer to acquire assets held by Polish debt management and collection company GetBack. Hoist Finance has now entered into an agreement to acquire assets at a value up to approximately PLN 400 million. More than 95% of the assets are comprised of non-performing unsecured consumer loans; a minor part includes secured consumer and small and medium enterprises loans.
The transaction is expected to close in mid-April 2019 and is subject to approval by the relevant authorities and stakeholders, including the court supervisor of GetBack.
The Clifford Chance team was supervised by Warsaw Managing Partner Agnieszka Janicka and included Counsels Tomasz Derda and Krzysztof Hajdamowicz, Senior Associate Kacper Bardan, and Associate Katarzyna Aleksandrowicz.
The K&L Gates team consisted of Partner Adam Stopyra, Partner Lech Gilicinski, and Counsel Lech Najbauer.