Idea Bank with a new trustee. A landmark court decision in the bankruptcy case. We know the name
As Business Insider Polska found out, in principle, a single-person court will not decide in bankruptcy proceedings of Getin Nobel Bank and Idea Bank. Here, a three-person team will be the rule, not the exception. The first decisions have already been made. They concern the change of the trustee of Idea Bank.
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Who and how became the trustee of Idea Bank?
As we have already written in Business Insider Polska, as a result of the decision of the Minister of Justice, who suspended Marcin Kubiczek's license as a restructuring advisor, the District Court for the Capital City of Warsaw Warsaw as a single member on May 19 this year. changed the trustee of Getin Noble Bank. It was the company of Paweł Janda and Mirosław Mozdężeń.
The receiver of Idea Bank still had to be chosen. He was to be selected by judge Tomasz Pisarski, drawn at the beginning of May. It was said that Kamil Hajduk was to be one of the candidates. Maciej Szczęsny, president of BFG, the largest creditor of Idea Bank, warned against such a scenario in a letter to the court.
In a statement sent to the editorial office, Hajduk assured that he had not submitted his candidacy for the position of receiver of Idea Bank and was not applying for appointment to this position.
May 25 this year the court replaced Marcin Kubiczek with Paweł Andrzej Głodek. He is a restructuring advisor who handled, among others, the bankruptcies of Ursus, Open Finance, Bank Spółdzielczy in Nadarzyn, and Spółdzielcza Kasa Oszczedniowo-Kredytowa in Wołomin.
Resolution on changing the trustee of Idea Bank
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Precedent cases, precedent decisions
Interestingly, a new trustee was appointed by a three-person court. This is the result of the order of May 20 this year. Judge Cezary Zalewski, vice-president of the Warsaw District Court.
He ordered that all matters relating to the bankruptcy of Idea Bank, but also Getin Noble Bank, are to be heard by a three-person panel due to the particular complexity of the case and its precedent-setting nature.
Order of judge Cezary Zalewski, vice-president of the District Court in Warsaw
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This is a precedent-setting order because, in principle, in accordance with the law, the bankruptcy court adjudicates with one professional judge (Article 150(1) of the Bankruptcy Law). He single-handedly dismisses and appoints a trustee, as in the case of Getin Nobel Bank.
The bankruptcy court adjudicates mainly in a single-member panel
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Both proceedings, in which the bankruptcy court will no longer act alone, concern thousands of injured parties, clients of Getin Noble Bank and Idea Bank. Among them are shareholders, bondholders, including GetBack, but also customers who invested their savings.
Such clients are represented by, among others: legal advisor Damian Nartowski. In his opinion, decisions on three-person teams should be made already in 2022 and 2023, not just now.. — It was already known then that these were matters of great substantive, organizational and social importance, in which a lot could happen. Already then, it could have been decided that these would be particularly complex and precedent-setting cases that would require a larger panel. Therefore, it is good that attention has been paid to this issue. The question arises why did it happen only now? – says Damian Nartowski.
We asked several lawyers specializing in restructuring about the case. They did not want to comment directly, but they admit that they are hearing about such an order for the first time.
When the court declares a company bankrupt, it appoints a judge commissioner. Bankruptcy is announced by a three-person court. Then, bankruptcy proceedings are conducted in this court and conducted by the judge commissioner. He is appointed by a court, usually composed of three people. The three-judge court acts only in specific cases, e.g. when it considers a complaint against the judge commissioner's decisions or decides on the trustee's remuneration.
