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POLAND: Key Court Case In Poland's Major Business Succession Drama Kicks Off

POLAND
PolandCEEMEAEM BulletBulletEmerging Market News
  • Rzeczpospolita reported that this week a Luxembourg court will hear a case surrounding contentious succession in the business empire of one of the richest Poles Zygmunt Solorz. Last year Solorz abruptly reversed his decision to transfer control over his companies to his children and removed them from several management boards, which they believe was null and void. Solorz's empire includes strategically important companies, such as Polsat Plus media group and coal power plants.
  • According to a Money.pl report, the Finance Ministry wired state subsidies to eligible political parties this week, with the main opposition Law and Justice (PiS) obtaining a reduced amount. The government continues to hold off on the execution of a decision of a contested Supreme Court organ reversing the decision to lower PiS's subsidy, awaiting clarification from the National Electoral Commission (PKW). The electoral body is struggling to adopt a resolution on the matter.
  • A WP.pl noted that governing coalition leaders may hold a meeting later this week amid PM Donald Tusk's view that ongoing tensions may have negative consequences for the presidential election campaign.
  • President Andrzej Duda tapped Dariusz Lukowski to become National Security Bureau chief after Jacek Siewiera announced his resignation, ostensibly to accept a scholarship at the University of Oxford. Duda's term in office is drawing to an end.
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  • Rzeczpospolita reported that this week a Luxembourg court will hear a case surrounding contentious succession in the business empire of one of the richest Poles Zygmunt Solorz. Last year Solorz abruptly reversed his decision to transfer control over his companies to his children and removed them from several management boards, which they believe was null and void. Solorz's empire includes strategically important companies, such as Polsat Plus media group and coal power plants.
  • According to a Money.pl report, the Finance Ministry wired state subsidies to eligible political parties this week, with the main opposition Law and Justice (PiS) obtaining a reduced amount. The government continues to hold off on the execution of a decision of a contested Supreme Court organ reversing the decision to lower PiS's subsidy, awaiting clarification from the National Electoral Commission (PKW). The electoral body is struggling to adopt a resolution on the matter.
  • A WP.pl noted that governing coalition leaders may hold a meeting later this week amid PM Donald Tusk's view that ongoing tensions may have negative consequences for the presidential election campaign.
  • President Andrzej Duda tapped Dariusz Lukowski to become National Security Bureau chief after Jacek Siewiera announced his resignation, ostensibly to accept a scholarship at the University of Oxford. Duda's term in office is drawing to an end.