MCI Management pushes Treasury for zł.40m refund

Before going to court MCI made an offer to the Treasury to abandon the case in return for zł.30 million compensation, its second attempt to reach a compromise with the Treasury. There will be no third chance. In 1999 the company was fined zł.10 million for an allegedly circumventing fiscal law by exporting computers and re-importing them again with 0% VAT rate. In 2002 the Chief Administrative Court (NSA) found the company not guilty and annulled the fine, but it was too late. Banks had already withdrawn financing, the company had lost its customers and had had to dismiss a few hundred staff, finally announcing bankruptcy in 2004. MCI had bought JTT's shares for zł.10.2 million but had to sell them for a mere zł.45,000. Now MCI is claiming a refund for its lost investment and profits which JTT would have brought in if it had not been forced to close its doors. (Puls Biznesu, p.6) J.L.