Court holds verdict, Elektrim must pay back bondholders

APA - Austria Presse Agentur
opublikowano: 09-11-2005, 16:47

Warsaw (Puls Biznesu) The appellative court in London rejected Elektrim's appeal concerning the previous judgment of public court, which said that the companys bonds were due since the beginning of the year.

Warsaw (Puls Biznesu) The appellative court in London rejected Elektrim's appeal concerning the previous judgment of public court, which said that the companys bonds were due since the beginning of the year.

We don?t comment until we receive court decision, Ewa Bojar, Elektrim spokesperson said.

There is no way to appeal now. The court has finally decided that the company has four times broken the agreement on paying back the debt, Kamila Gorecka, the spokesperson of bondholders replied.

Yesterday's hearing took place although Elektrim's lawyers had refused to represent the company several days earlier. The Warsaw company applied for delaying the court hearing because it had no time to find a new lawyer's firm. The court decided it had important reasons to go on with the proceedings. Bondholders believe that the decision will finish clashes over the payment. They demand Elektrim to pay back PLN 2 billion immediately. Elektrim's representatives say that the debt is due in the middle of December.

On November 15th, a court meeting will be held. The court rejected several months ago our file for Elektrim?s bankruptcy because we lacked the London court decision, Kamila Gorecka explained.

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Podpis: APA - Austria Presse Agentur

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