Rymarz Zdort Maruta advises on sale of Noble Funds TFI to VeloBank

We are pleased to announce that we advised the bankruptcy trustee of Getin Noble Bank and Idea Bank on the sale of a total holding of approximately 86.83% of the shares in Noble Funds TFI, a fund management company, to VeloBank. The proceeds from the sale of the fund management company will go to the creditors of the bankrupt banks. The transaction is subject to approval by the judges-commissioners of Idea Bank and Getin Noble Bank and by the Polish Financial Supervision Authority.

Noble Funds TFI specialises in creating and managing open-end and closed-end investment funds, renders asset management services involving the management of individual securities portfolios, and provides investment consultancy.

VeloBank is a universal bank based in Warsaw that was formed on 3 October 2022 as a result of the process of resolution of Getin Noble Bank S.A. conducted by the Bank Guarantee Fund.

Our transaction team comprised: Magdalena Pyzik-Waląg (the partner heading the Restructuring, Insolvency and Distressed Asset Investments practice), Dr. hab. Łukasz Gasiński (partner), Filip Leśniak (partner), Katarzyna Łukaszewicz (partner), Dr Łukasz Karasek (senior associate), Diana Sofu (senior associate) and Mateusz Palian (senior associate), and was supported by: Tomasz Kordala (senior associate) advising on antitrust matters, Dr Zbigniew Okoń (partner) providing intellectual property advice, and Piotr Zawacki (counsel) handling tax matters.