Alstom Power demands Elektrim be declared bankrupt

AP claim they are considering all possibilities to reclaim their money from Elektrim. According to Parkiet, the possible reason behind the move was that AP saw no point in continuing exchanging letters with Elektrim's president, as it was not leading to any solutions. However, Elektrim does not agree to the amount of liabilities demanded by AP as they believe it is too high. The liabilities, so-called suspension fee, resulted from suspending the Pątnów II investment for almost two years. "We are not prepared for the amount set by Alstom. We are currently planning to finalize financing a new power block. Rising suspension fees is not a good idea for us, especially as we were not previously informed," said Zygmunt Solorz-Żak, Elektrim's main shareholder and CEO. "We want AP to pay the amounts set and agreed on earlier. They were set in an agreement annex...They were to be paid by the end of 2004," said Marek Szelewicki, AP communication director. (Parkiet, February 19-20, p. 1) D.W.