We are pleased to announce that we had the opportunity to advise Commercial Banks Protection System S.A. on the granting of a subsidy and the acquisition of a minority stake in a bridge institution as part of the resolution of Getin Noble Bank S.A. (“GNB”) initiated by the Bank Guarantee Fund.
Commercial Banks Protection System S.A. is the company that supported the entire process from the financial side. The company was established by the eight largest banks in Poland: Alior Bank, Bank Millennium, Bank Pekao, PKO BP, Santander Bank Polska, ING Bank Śląski, mBank and BNP Paribas Bank Polska. Its aim is to ensure the liquidity and solvency of the banks participating in the company, as well as to support resolution processes conducted by the Bank Guarantee Fund.
“We are pleased to have had the opportunity to support Commercial Banks Protection System S.A., and, indirectly, the banking sector in the process of implementing the solutions necessary to protect customer deposits and prevent the uncontrolled bankruptcy of GNB. This process required a great deal of commitment and regulatory and transactional experience on our part”, says Lukasz Gasinski, a partner and the head of the regulatory practice at Rymarz Zdort.
The project team comprised: Lukasz Gasinski (partner), Adam Puchalski (counsel), Lukasz Karasek (senior associate), Marzena Iskierka-Janota (senior associate), Anna Aranowska (associate), Patryk Modrakowski (associate) and Emilia Roszkowska (associate).