Company from Wykroty placed under compulsory administration. Government: “Blocking Russian influence”

As reported by the Ministry of Development and Technology: – Both companies have been added to the sanctions list of the Minister of the Interior and Administration.

Boerner Insulation sp. z o.o. (registered office: Wykroty – ed. istotne.pl) is a manufacturer of construction insulation materials, mainly mineral wool. Its plant employs approximately 200 people. Boerner Service sp. z o.o. (registered office: Warsaw) is mainly engaged in the sale of construction insulation materials. This Warsaw-based company employs approximately 50 people.

Minister Waldemar Buda on the decision:

We are the first country in Europe to have introduced the institution of temporary compulsory administration. (...) I have made another decision to introduce it. This time, these are companies from the construction sector, employing approximately 250 people. We are unlocking the possibility for them to operate, ensuring the conditions needed to conduct business and, consequently, to preserve jobs

He added: – We are not stopping the process of blocking Russian influence and Russian capital.

When can temporary compulsory administration be introduced?

Ministry:

The Minister of Development and Technology may introduce temporary compulsory administration into a company included on the sanctions list of the Minister of the Interior and Administration. This may be done when it is necessary to ensure the company’s operation because of the need to preserve jobs, provide services to the public or perform other tasks of a public nature. This measure may also be applied when it is intended to protect the state’s economic interests.

On 11 October 2022, temporary administration was introduced at Novatek. Less than a month later – on 4 November 2022 – it was introduced at PAO Gazprom. On 11 July 2023, the Minister of Development and Technology introduced temporary compulsory administration into three companies belonging to Wiaczesław Kantor. Through Norica Holding S.à.r.l., based in Luxembourg, Opansa Enterprises Limited and Rainbee Holdings Limited, based in Cyprus, the Russian oligarch controls 19.82 percent of the shares in Grupa Azoty S.A.