Elektrim tries to undermine DT's latest move in ongoing ownership quarrel

The Polish company claims that its German counterpart has no right to undertake such action. At the same time Elektrim has problems with its creditors who are demanding its bankruptcy. As part of settlement proceedings, the court chose a supervisor who will be responsible for securing the firm's assets. He is obliged to make sure that Elektrim does not pay off creditors according to its own criteria. Due to this, all decisions exceeding the normal activities of the management board have to be accepted by the supervisor. Last night the company issued a communiqué about the plans to grant its subsidiary a zł.70 million loan to repay debts to Alstom, one of the sub-contractors in the ZE PAK power plant project, in which Elektrim holds a majority stake. (Puls Biznesu, p. 9) M.M.