Monday’s EGM in PAK was also a prelude to Tuesday’s meeting of Cyfrowy Polsat on a similar matter and… a hearing in Liechtenstein in the dispute over who exercises power in the TiVi Foundation and Solkomtel Foundation.
Zygmunt Solorz’s Empire. What do we know about him?
The founder of Polsat built and accumulated valuable assets. Today, the stock exchange “gives” him approximately PLN 6 billion for public companies: Cyfrowy Polsat, ZE PAK or ATM Grupa shares.
The billionaire hesitates
The public learned about the dispute in the Solorz family in the second half of September, but as “GW” wrote, it has longer roots. In 2022, the billionaire introduced a provision into the statutes of the Solkomtel and TiVi Foundations allowing the management of the foundation’s assets to be transferred to secondary beneficiaries – his children – during his lifetime. This provision was to be applied on December 15, 2023, but on August 17, the founder of Polsat decided to cancel and change the statute of the TiVi Foundation. It was supposed to include a point about the right to revoke the entire succession. In August this year Solorz allegedly changed his mind again and handed over the management of both foundations to his children, and a day later he evaded the consequences of this declaration. There is an ongoing dispute in Liechtenstein about which step is effective. – The hearing regarding the issue of interim security will take place on October 8 – informed Paweł Rymarz, Tobias Solorz’s lawyer, in Money.pl.
On Monday, the lawyer provided us with the statement of the billionaire’s children, which shows that the hearing has been postponed and is to take place within 10 days.
Dismissed without objection
The course of the EGM of the energy company may indicate what the mood in the group is now. The chairman of the meeting, Dr. Jerzy Modrzejewski, the chief lawyer and friend of the founder of Polsat, known for his polemics with minority shareholders of Elektrim, now did not allow the billionaire’s middle son to speak. Piotr Żak tried to make a statement. He mentioned the events of the previous day, but was not able to report them publicly. He proposed a break in the session until November 5 – the project was defeated in the vote.
After Monday’s EGM, the supervisory board of ZE PAK consists of eight people. Importantly, no one raised any objections to the resolutions. However, the billionaire’s children issued a media statement.
