Table: High Tension
Elektrim defaults on $424 million worth of convertible bonds. Proposes that 40% of debt be written off.
Group of shareholders led by bank BRE asks court to declare Elektrim bankrupt.
Court refuses bankruptcy petition. In victory for Elektrim, it tells company to devise a debt-restructuring plan.
Supervisory board fires acting CEO Waldemer Siwak and his deputy and replaces Siwak with board member Jacek Krawiec.