Relevations over the ownership of Szczecin Shipyard

Yesterday, during the meeting with the Szczecin Shipyard workers, Economy Minister Jacek Piechota announced that part of the shares in the shipyard owned by members of the management board is pledged as collateral to BRE Bank. Grupa Przeyslowa, the company consisting of managers and owners of the shipyard, used 20-30% of their shares in the bank as collateral. "We were not aware of this. The bank is a participant in the consortium, without its approval the sale of these shares is impossible," said Piechota. The issue is proving problematic for Treasury Minister Wieslaw Kaczmarek and his plan for saving the shipyard, as his concept was to take over the shares belonging to Grupa Przemyslowa for a symbolic single zloty. BRE remains tight-lipped, maintaining that such issues are banking secrets. Now, it looks like Kaczmarek's ministry might have to find more than a symbolic solitary zloty to buy the shipyard. (Puls Biznesu, p.10), M.T.