On June 14, 2024, the Minister of Development and Technology appointed Mr. Czesław Rybak as a new compulsory manager at Boerner Insulation and Boerner Service. The decision was based on the Act of April 13, 2022, on extraordinary solutions for counteracting support for aggression against Ukraine and the protection of national security.

Mr. Rybak replaced the current compulsory administrator, Mr. Paweł Piotrowski. The duties of the compulsory administrator include:

• Ensuring the continuity of the company’s operations, including maintaining jobs in both enterprises and securing the economic interest of the state;
• The management board has the authority to manage the enterprise, including adopting resolutions and decisions in all matters reserved for the competence of the company’s authorities and bodies and representing the entity;
• Exercising the rights of a person or entity entered on the list for which the management board has been established, in particular exercising the rights attached to shares belonging to such a person or entity;
• Taking actions necessary to prevent using funds, funds, or economic resources under management to directly or indirectly support aggression, violations, or other activities until the entire financial resources, funds or economic resources under management are disposed of.

To perform the tasks mentioned above, the manager has access to all data and information regarding the business entity, particularly information covered by banking secrecy, and is authorized to perform activities resulting from this access.

The compulsory administrator must provide current information on the actions taken to the minister responsible for internal affairs and the minister responsible for the economy.

The ongoing process of selling the assets of Boerner Insulation and Boerner Service is at an advanced stage.