Bankruptcy bitter pill for sugar company privatization

An obstacle to the privatization of the sugar holding Slaska Spolka Cukrowa (SSC) has arisen as one of its biggest factories in Maloszyn has been declared bankrupt by a local court. The company's management board has appealed to the Court of Appeal. "We established that the legal adviser will not stop the modernization of the plant and will not layoff workers. The only action he will take is to make an inventory," said SCC president Adam Sebzda. If the Court of Appeal does not reverse the decision of the local court, then the contract with the prospective buyer, the French company St. Louis Sucre will have to be renegotiated. "The privatization contract will be signed with or without this plant," said Sebzda. (Rzeczpospolita, page B2) M.M.