Polish Billionaire Suffers Setback in Succession Clash
- Liechtenstein court issued ruling in October, Polish media say
- Cyfrowy shares lost as much as 7.4% in Warsaw trading
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Polish billionaire Zygmunt Solorz suffered a blow in a succession fight over his media, telecommunications and energy empire after a Liechtenstein court sided with his children in an October ruling.
The court introduced an administrator to the two foundations through which Solorz controls his companies in Poland, limiting the billionaire’s control over personnel and other vital decisions, Onet.pl and Wyborcza reported on Tuesday. Wyborcza said that the Liechtenstein ruling was issued on Oct. 26 and the details weren’t revealed as children have been making attempts to contact the father.