Elektrim's bondholders take over company assets

There is no compromise in sight, but the company announced that it is appealing against the bailiff's decision to allow the seizure. "We will do anything necessary to protect our interests," said Ewa Bojar, spokeswoman of Elektrim. Elektrim was obliged to buy back its bonds in December last year. It refused to do so, and the creditors went to court. At the same time bankruptcy proceedings are being carried out against the company. "Anything can happen," said Zygmunt Solorz, chairman of Elektrim's supervisory board and its main shareholder. In his opinion the decision to allow the assets of the company to be seized has no significant meaning for the fate of the company. "I am still interested in repaying the debts, but nothing has changed with this matter," said Solorz. He is willing to repay the debts with the 48% stake in PTC, operator of Era GSM mobile network, over which Elektrim is in conflict with French Vivendi. (Puls Biznesu, pp. 1, 11) M.M.