Fiinu Faces Bankruptcy Petition Over Everfex Subsidiary

Fiinu PLC has received bankruptcy petitions from two creditors alleging unpaid loans totaling over £1 million against its Polish subsidiary, Everfex P.S.A. The petitions were filed by Tomasz Kwaśniewski and Mikołaj Grzybek on September 2, 2025, though Polish courts have not yet formally served proceedings on either Everfex or Fiinu. The claims stem from Everfex’s financial obligations, with the creditors seeking resolution through bankruptcy proceedings. Fiinu reported a £9.7 million loss for 2025, driven largely by its Everfex operations, which accounted for £0.66 million in group revenue that year. The company also recognized a £7.3 million non-cash goodwill impairment related to the acquisition of Everfex in August 2025, further straining its financial position. The creditors’ claims include potential liabilities arising from alleged breaches of contractual protections and historic operational and regulatory issues, with Fiinu estimating potential claims totaling around £8.3 million. Kwaśniewski, who holds a 40% share of the guarantee obligations under the Everfex acquisition agreement, faces personal financial exposure if the claims proceed. Meanwhile, Estofi Holding OÜ, a major shareholder holding approximately 8.27% of Fiinu’s issued share capital, has demanded the removal of CEO Dr. Marko Sjoblom and an independent review by non-executive directors. Fiinu’s board advised shareholders to vote against these requisitioned resolutions at an upcoming general meeting, scheduled for the following day. The company also plans to initiate formal arbitration proceedings to address the acquisition-related disputes.