Judgment for buyer of GetBack bonds in dispute with Idea Bank
01.06.2021
On 31 May 2021 a judgment was issued by the Nowy Sącz Regional Court in favour of our client, awarding a refund of amounts paid for bonds of GetBack SA acquired via Idea Bank SA.
The court upheld the client’s claim in its entirety. The judgment at the first instance had awarded the client nearly a million zlotys plus interest.
Under the confirmed arrangement of GetBack SA (providing for payment within eight years of 25% of claims of bondholders, among others), ultimately 75% of the purchase price of the bonds was sought in the litigation against Idea Bank.
In the oral justification for the judgment, the court clearly stated that in its opinion, Idea Bank SA was not authorised to offer the bonds in question to its customers. Additionally, in offering the bonds, the bank misled its customers on a number of circumstances, thus committing a tortious act.
The client was represented in the dispute by Paweł Mazur, Marcin Lemkowski, Maciej Kiełbowski and Joanna Duda.