Elektrim ‘default’ in question
Poland’s energy and telecom company insists it can pay debt obligations by June 2005, but sceptical bondholders are demanding immediate repayment
Bondholders in Elektrim, the troubled Polish energy and telecom company, are claiming that a London court ruling of March 24 means the corporate has defaulted on its €440 million of debt. The bondholders are demanding immediate repayment, but the company says it has not defaulted under Polish securities law.
In April 2003, Polish media company Polsat bought a controlling stake in Elektrim. In June
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