Debt collectors are called in to recover media group 4Media's unpaid dues

Media house OMD Poland announced today that debt collectors will visit two companies belonging to media group 4Media after the group's failure to wholly repay their debt, worth an estimated zl.950,000, including interest and court fees. The debt arose as a result of 4Media's purchase from OMD of internet portal Ahoj.pl, including this company's liabilities, valued at zl. 2 million. At the beginning of May, OMD took the matter to court and the debt collector took over 4Media's accounts and shares in a few of its subsidiary companies. However, in June, after long negotiations, 4Media convinced the creditor to postpone the payment deadline. 4 Media made a few repayment installments last week, though not the whole debt. The carefully negotiated deadline expired yesterday. (Gazeta Wyborcza, p. 15) P.W.