News Parkiet

Privatization

Socha to go to court against Sobieski

Treasury Minister Jacek Socha said in a statement he would file a suit against Sobieski Dystrybucja, an alcohol distributor controlled by France's Belvedere over alleged 'serious irregularities' involving Mr. Socha and other government during the privatization of Polmos Białystok, a major vodka distiller. Sobieski lost a heated race to buy Białystok after it was outbid by the US-based CEDC The Treasury which oversaw sale of Białystok, said Sobieski's decision to file criminal charges against Socha is merely an attempt to undermine his reputation.

Building industry

Polnord down on back tax claims

Shares of publicly traded building contractor Polnord SA fell as much as 8.5 percent to close at 9.15 zloty yesterday after tax officials seized some of its assets to secure alleged back tax payments. Polnord said the tax office is demanding as much as 10.7 million zloty in corporate income taxes and VAT taxes allegedly owned by Energobudowa, another building company that merged with Polnord two years ago.

Consulting

DGA cuts earnings forecast

Consulting firm DGA Doradztwo Gospodarcze reduced this year's earnings target from PLN 5.1 million to between 3 and 3.5 million zloty because of lower margins on contracts financed by the EU, additional expenses after hiring new staff and first-half charges totaling PLN 0.6 million zloty.