Sur5.net faces court action after failing to hand over assets

Sur5.net has responded to accusations that it failed to hand over as ordered assets belonging to several major investors. The brokerage, which last week lost its license, is accused of failing to transfer to Bank Slaski brokerage house (DM BSK) $10 million it was operating on behalf of state-controlled ho lding Ciech and its subsidiary Soda Matwy, PKN Orlen-owned refinery Rafineri a Trzebinia, and steel and mining conglomerate Zaklady Gorniczo-Hutnicze Bol eslaw. According to Sur5.net, none of the companies had investment accounts with it, only deposits, whereas the Securities and Stock Exchange Commission (KPWiG) had ordered it to hand over only assets kept in investment accounts. Rafineria Trzebinia has already filed a complaint against Sur5.net, demandin g that it get all its money back. "I would be very surprised if the case did not damage investors' confidence in brokerage houses," said Adam Atmanski, h ead of the strategic investors department at DM BSK. (Rzeczpospolita, p. B5) J.K.