The American investment fund, Polish Enterprise Fund L.P., the owner of a 22-% stake in Krosno glassworks, brought a court challenge to resolutions from the company“s shareholders meeting that replac…
The American investment fund, Polish Enterprise Fund L.P., the owner of a 22-% stake in Krosno glassworks, brought a court challenge to resolutions from the company“s shareholders meeting that replaced three supervisory board members, as the Americans were unable to exercise votes. According to a recent report, the general meeting that took place on 4 February was to make changes in the board to reflect present control of power. However, the Americans were not allowed to exercise votes for supposedly having registered too late. As a result, other parties chose new members, with Polish Enterprise Fund having no representation. The report said that Americans have recently failed in an attempt to take control over Krosno, having been beaten by Zdzislaw Sawicki, a private shareholder who now controls roughly 45% of the company. Results of shareholders meeting show that both parties did not reach agreement on further strategy for Krosno.