On August 1, 2024, the Warsaw District Prosecutor’s Office initiated an investigation over the failure to fulfill obligations and misuse of delegated powers by those mandated by law and by contract to manage the business of PKP CARGO S.A. from July 25, 2022, to July 31, 2023. The case pertains to the so-called “coal decision” – i.e. the undertaking of actions as part of the execution of the Prime Minister’s decision without obtaining previous agreement with the Minister of State Assets, and the issuing of a resolution by the board of PKP CARGO SA, which resulted in substantial financial damage to the company, through loss of revenue from concluded contracts with other entities and loss of expected benefits. The offense is pursuant to art. 296 § 1 and 3 of the Penal Code.
“In April this year, we were delegated from the Supervisory Board to the Board of PKP Cargo. We have carried out preliminary analyses, audits, verification of what is happening in the company. Unfortunately, we found the company in a deplorable state, faced with severe organizational, transport, and most importantly, financial challenges,” said Marcin Wojewódka, acting President of the Management Board of PKP CARGO in restructuring, during an interview with eNewsroom.pl.
“For several months, we have been forced to pool resources to pay salaries. We have to navigate between payments since our predecessors – the boards who managed in quotes PKP Cargo in previous years of political appointment from the previous ruling party – led a plunderous economy on PKP Cargo, leading to the current difficult situation. Fundamental business mistakes today bear very negative consequences. These are errors from previous years, particularly the so-called ‘coal decision’ and the manner in which this was executed, as well as the approach to the so-called lease-back. Just before the 2023 elections, the best locomotives were sold, money was received for it, and leased back by PKP Cargo – and the several hundred million that were received instead of repaying loans and the company’s debt, were earmarked for pre-election pay raises for employees, probably to buy voters. Unfortunately, our company was exploited – the political decisions of our predecessors carry negative consequences today. Hence, we have submitted the first notifications to the prosecutor’s office in June, which concerned the execution of the ‘coal decision’. In recent days, we have received information that the Warsaw prosecutor has initiated an investigation in this matter. Further notifications to the prosecutor’s office in preparation concern our predecessors and their inept management damaging the company. As for specifics, we will be releasing them in the form of current reports – because as a public company, we are obliged to publish this type of information, which may affect the share price, within current reports,” explains Marcin Wojewódka.
Source: https://ceo.com.pl/pkp-cargo-przygotowuje-kolejne-zawiadomienia-do-prokuratury-34927
