Cyfrowy Polsat Owner Denies Court-Imposed Property Restrictions
WARSAW (Reuters) - The owner of Polish media and telecommunication group Cyfrowy Polsat Zygmunt Solorz denied reports that a Liechtenstein court has restricted his ability to dispose of the company's property.
Polish media reported on Tuesday that courts in Liechtenstein and Cyprus have imposed restrictions on his ability to make decisions on the property of his companies at the request of his children.
In a statement sent to media late on Tuesday, Solorz said the court decision only restricts his and his children's rights to make changes in the council of the foundation in Liechtenstein which are the owners of his companies.
"First of all, it is not true that any court blocked my assets... I still fully control and supervise my companies, including acting as chairman of the supervisory board," Solorz wrote.
Shares in Cyfrowy Polsat have come under pressure as conflict between its billionaire founder and his sons, who held key management positions in the company, has escalated.
Solorz's three children have expressed concern about his deteriorating health and susceptibility to the influence of his current wife. Solorz dismissed his two sons from the supervisory boards of his companies earlier this year.
(Reporting by Anna Wlodarczak-Semczuk; Editing by Christina Fincher)
