Elektrim ‘default’ in question


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, Piotr Rymaszewski, representative of the bondholders on the company’s supervisory board, was

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