Abris launches legal action against Poland

According to reports, Abris is seeking around $600m for losses likely to be caused by the forced sale.

Earlier this month, Polish financial watchdog KNF ordered Abris to sell the bank by April 30 2015. According to a statement, KNF believes the central and eastern Europe-focused house had failed to meet investor commitments.

The regulator initially attempted to force a sale in July, but this was withdrawn due to legal risks. In its first claim against Abris, KNF said the buyout house had broken its commitments by appointing a new CEO without first consulting the regulator.
Abris has filed the case with the Arbitration Institute of the Stockholm Chamber of Commerce.

FM Bank PP was created by Abris in July 2013 via the merger of two portfolio holdings. The lender focuses on supplying loans and financial support to Polish SMEs.

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• Topics
• CEE
• GPs
• Abris Capital Partners
• Poland