PZU Shareholders' Meeting broken off for fifth time

An Emergency General Shareholders' Meeting of insurer Powszechny Zaklad Ubezpieczen (PZU) has broken off for the fifth time. It appears that the PZU shareholders in conflict - Eureko, bank BIG BG and the State Treasury - were on the verge of an agreement when at the very beginning of Friday's PZU meeting the majority shareholder, the Treasury Ministry demanded changes in the agenda. Instead of electing the president of the supervisory board, the participants focused on ownership matters. The decision on candidacy to the supervisory boards of the associated companies involves electing 10 members to the PZU Zycie supervisory boards. The Ministry proposed its five candidates and then asked Eureko to propose its two candidates on the spot during the meeting. After fierce protests from the Eureko side, the Ministry decided to give it until Monday to name its candidates. The postponement was voted through by the votes of the State Treasury. Ernst Jansen, the Eureko Consortium representative, said Eureko wants to file a lawsuit in the matter..(Prawo i Gospodarka, p1, Oct. 28-29