CZ/SK verze

Wherever he goes, the grass doesn't grow. Slovak phantom Moric signed up to the targeted liquidation of repairs in Nymburk

Wherever he goes, the grass doesn't grow. Slovak phantom Moric signed up to the targeted liquidation of repairs in Nymburk
photo: Archives/Railway
30 / 08 / 2021

Prague, Bratislava - The business practices of Slovak former Member of Parliament Víťazoslav Moric hit the Czech Republic in their time. His business with a punch of unfair practices also affected the well-known railway repair company ŽOS in Nymburk, which he bought as part of the bankruptcy and had capital and employees removed from it. He was not afraid of his activities elsewhere. The company Grandis s.r.o. also suffered economic problems. It operated the eponym Slovak hotel in Martin, which is now closed data. Here, too, there is a suspicion of manipulation of accounting data in order to take funds out of the company.

Workshops for repairs of railway vehicles in Nymburk since 1874. In the 1980s and 1990s. In the 1990s, the plant was rebuilt into the largest locomotive repair shop in Eastern Europe. The most lucrative customer for the company was traditionally České dráhy. Unfortunately, the rolling stock repair giant has started moaning. Over time, the company got into financial problems, therefore in 2004, it was declared bankrupt on assets that were dissolved only in 2017 due to the circumstances after the scheduled resolution was fulfilled. At that time, the former Member of the National Council of the Slovak Republic, Víťazoslav Moric, seized his opportunity. He was able to time the whole operation very well. Unfortunately, instead of standing on his feet and heading with it to a brighter tomorrow, he became a major mover and directed the company to repair the rolling stock to the real end.

Purchase of ZOŠ Nymburk

The story started to be written earlier. In mid-May 2005 Moric founded a brand new company ZOŠ Vrútky - CZ s.r.o. It will then play a major role in the liquidation of the Slovak entrepreneur. Later, he did not hesitate to change the name to be conspicuously reminiscent of a Nymburk company. After the necessary preparation, the main stage of the plan occurred when Moric ŽOS Nymburk was bought in mid-2005 as part of the bankruptcy. Just two months after he founded a company with almost the same name with no history and no previous business experience, to use it to liquidate ŽOS Nymburk.  

Feeding off the company

Then comes the main phase of the plan. Moric is slowly taking everything from property and employees. Already when he bought ŽOS Nymburk, his company ŽOS Vrútky - CZ s.r.o transferred a substantial part of movable and immovable property. The sale of assets also took place over the following years. The assets were sold to ŽOS Vrútky s.r.o significantly below the price, thus denying the right of creditors. Under all established rules, those to whom money is owed should have been satisfied. However, this did not happen due to the transfer to a new company. The funds were transferred from the company to the other entity. The NRSR former Member of Parliament was obliged to deal with the care of a proper manager and thus to satisfy the creditors according to the scheduled resolution. Instead, from the first moment, the company tunneled. A completely pitiful and screaming operation, for example, is the transfer of employees. From the original 315 and in 2005 Moric was able to reduce the number of employees of THE Nymburk to only one by 2011. According to employment contracts, the rest of the employees were demonstrably linked to employment in the purpose-built company ZOŠ Vrútky - CZ s.r.o.

Cover maneuvers

Since the beginning of the company in 2005, these activities have been masked by the non-publication of accounting statements and annual reports of ŽOS Vrútky-CZ, s.r.o. and further by the performance of both companies under almost the same name. ŽOS Vrútky-CZ, s.r.o. was subsequently renamed železničé repairers and machinery plants Nymburk, s.r.o. and used the same headquarters. According to the findings of the available data, the company's own economic denial occurred. The production part has been reduced and economic problems have deepened. When Moric took over the US Nymburk, the company had an equity value of 192 783 000 CZK, during its operation, the value fell on average to minus 66 467 714 CZK. The company was finally sold to Legios in 2011, without disclosing the sales amount, with a loss of minus 570 852 000 CZK.

Victoroslav Moric also showed himself as a bad manager in ŽOS Vrútky - CZ, s.r.o In 2011, the company reported a negative profit of minus CZK 16,608,000 and a negative value of fixed assets in the amount of MINUS CZK 32,615,000. Here, too, there is the same modus operandi, accounting data indicate what worked in the case of the nymphburg company ŽOS, where the company's assets were drained into an entity that violates the rules on disclosure of financial statements.

End of the company

The Moricova family also has its activities in the hotel industry. Unfortunately with a similar "success" as in the case of a Nymburk company. Here, too, doubts are raised about the reporting of data in the financial statements. For 2019 and 2020, the values of after-tax economic results differ by only EUR 100, which may indicate the irrelevantness of the data reported in the company's financial statements.

We also found that Grandis s.r.o. is owned by Víťazoslav Moric Jr., which holds a 69% stake. Sloveuro Consulting is the second company in the ownership structure with a 30 % shareholding. Sloveuro Consulting is again owned by the son of former Member of Parliament Víťazoslav Moric Jr. and wife Morica st. Eva Moricová, who has less than thirty percent share.

If Grandis s.r.o. is in the consciousness of citizens in Slovakia, by running a luxury restaurant in Martin. Even here, under the tune of the Moric clan, it was not a successful business. Already in 2009 and 2012, the company stopped operating its main source of income in the form of restaurants and since then it has gone downhill with it. Since 2018, this is already an unloaded experience, the company is constantly in the red and does not have the funds to reverse the trend.

Money outlet outside the company

The data from Grandis' published financial statements in 2020 then act as a fist in the eye. According to them, there was a nearly 30-fold increase in personal costs, to EUR 38 608, whereas in 2019 it was a mere €1,303. However, based on the information published in the annual reports from 2015 to 2019, the company employed only one employee, in 2020 the number was increased to four. The increase in personal costs may indicate a possible draining of funds from the company. Given that the company is facing serious economic problems, the above treatments can be described as irrational and contrary to the duty of care of the administrative manager.