(BPT) - In a new legal turn, a U.S. federal court may require the daughter of Polish media mogul Zygmunt Solorz to hand over documents related to an ongoing dispute over the succession of his companies.
A new filing in California alleges that the self-made billionaire's children misled him into prematurely initiating succession proceedings — raising questions about manipulation and control over a multi-billion-dollar media empire.
At the heart of the case is Zygmunt Solorz, a Polish entrepreneur who built a successful media empire from the ground up.
Solorz, who has repeatedly appeared on Forbes' ranking of the world's billionaires, began his career as a salesman. In 1994, he won a bid for a private television broadcasting license and launched Polsat, which went on to become one of Poland's largest private television channels and one of the first national commercial broadcasters in Eastern Europe.
In the ensuing decades, Solorz expanded his business empire into mobile services, energy and financial products.
The succession conflict came to a head last year when Solorz's three children — two sons based in the family's native Poland and the aforementioned daughter, who resides in the United States — allegedly manipulated their father into signing documents intended to transfer the authority of two Liechtenstein-registered foundations over to the children, effectively signing over control of Solorz's entire business empire, including Polsat.
The children then sent letters to managers of Solorz's key companies, warning against making decisions that could affect their control over the businesses. In response, Solorz removed his sons from their supervisory positions of his company ZE PAK, Poland's largest private energy group.
In this latest development, Solorz's lawyers have asked the federal District Court of the Central District of California to order his daughter to produce documentation to uncover how the alleged steps were executed.
The goal, according to the filing, is to gather evidence to support several different ongoing legal proceedings pending in Liechtenstein, which will help determine whether Zak and her siblings orchestrated a plan to consolidate control of their father's assets without his permission.
Under a U.S. statute known as Section 1782, litigants in foreign proceedings can obtain discovery — a formal exchange of evidence — from U.S. citizens for use in such proceedings, ensuring that relevant evidence pertaining to the foreign proceedings are taken into account.
The case demonstrates how serious allegations of this type are taken, especially when they involve large assets. The battle between Solorz and his children has caused company stock prices to take a steep tumble, leading to significant losses in the empire Solorz built from the ground up.
What can you do to protect your own legacy?
While the Solorz case is complex, it demonstrates the need for detailed planning. As you approach retirement, remember that improper handling could lead to significant loss in wealth. Thoughtful preparation will help protect assets and preserve relationships across generations.
