Continental Microwave demands TVN bankruptcy in effort to retrieve debts

Continental CFO David Gee stated that he believed this was the only way his firm would get back over $3 million that TVN owes Continental for various equipment it procured since its launch in 1997. However according to the CEO of ITI Media Group, Jan Wejchert, which controls TVN, his firm does not have liquidity problems and the current financial difficulties were temporal. He also said that a substantial amount of the deal with Continental was paid and the remaining accounts would soon be settled. (Prawo i Gospodarka, page 3, Reuters)