BRE Bank accused of mismanaging Pozmeat

According to auditors, Korycka Budziak & Audytorzy, when BRE Bank took control of Pozmeat in 2001, it turned out to be unfavorable for meat producers and generally worsened their situation. The auditors have stated that the bank stopped the financial restructuring that could have been the key to Pozmeat's survival. For the company to avoid bankruptcy, it has now to find capital, an investor and reduce its indebtedness. The company's shareholders have been in conflict for two years. Minority shareholder, and critic of the bank's actions, Włodzimierz Nowaczyk, believes that BRE engaged its capital in the company in order to take control of it. In response to a minority shareholders' request, the court summoned an auditor who examined Pozmeat's situation while it was under the control of the bank. The auditor believes that the company was not managed properly and due to this Pozmeat lost zł. 20 million. The minority shareholders plan to sue BRE. (Parkiet, p.1; Puls Biznesu, p.7) A.C.