Billionaire sacked by family as succession feud spills over

Their fathers agreed to trigger the transfer of their registered foundations to them in the two Lixis, who effectively control the business empire. A few days later he changed his mind.

The children also wrote a letter to the managers of family businesses who warned them against the attempt to take over any potential. They said that they had difficulty communicating with their fathers and that they had clashed with Kulka.

Later in May, after trying to remove his sons from Solorz from his companies, a Liechtenstein court rejected a case where the foundation was trying to prevent the successor. His lawyer Radoslaw Kwasnicki said the billionaire had objected to the decision.

Now, Solorz came out, the last development in a epic that captured the people of Poland. As drama appeared, Cyfrowy shares delayed the wider Polish market. This year, they won less than half of the WIG20 display, which increased by 34 percent.

The stock fell 2.8 percent on Tuesday.

According to Piotr Raciborski, an analyst in Warsaw, investors look at “mainly in terms of operational risks için for a company that has started to improve the results in the last quarter.

Jaroslaw Kolkowski, a lawyer representing Tivi, said Bloomberg News to Bloomberg News this week was made to limit the risk of transferring assets from the Family Foundation ”.

In a statement published by Cyfrowy Polsat separately, Tivi said separately, Solorz and former CEO Miroslaw Blaszczyk knew and appreciates his indisputable contributions ”and decided to reject them to increase the controls on key assets.

“The foundation of the foundation is to protect the existence of the foundation, and the above changes were indispensable to fulfill the obligation correctly,” he said. “He will follow the situation and make additional decisions if necessary” he added.

Solorz’s lawyer Radoslaw Kwiasnicki said the PAP News agency would object to the dismissal of the businessman “illegal ıs and say,“ It’s just a temporary situation.

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The billionaire rarely appeared in the public, but he took part in a shareholder meeting via a video connection from a place that was not announced last year. His performance increased his health, but he repeatedly rejected his assistants such speculations.

Kwasnicki told Daily Puls Biznesu Last month, Solorz’s “great way” and normally worked for long hours, including new business initiatives.

For those who watch the story, the general view has more to go before any decision.

“If the personnel change ultimately leads to a clearer scenario, this will be positive,” Raciborski’s Raciborski said. “Nevertheless, investors will expect the next legal steps from both sides to evaluate the situation more clearly.”

Bloomberg

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