Poland's Rafako plans to file for bankruptcy after Tauron claim (updated)

Rafako SA w upadlosci

12/01/2023 16:45

(Adds information on companies' meeting planned for Monday)
       WARSAW, Jan 12 (Reuters) - Poland's Rafako  RFK.WA  said
on Thursday it was planning to file for bankruptcy, a day after
Tauron  TPE.WA  demanded 1.3 billion zloty ($298 million) from a
Rafako consortium that built a power plant the state-controlled
utility says is faulty. 
    Rafako, which makes a wide range of boilers, disputes
Tauron's claims for damages and fees, but is concerned they
could impact its ability to conduct business operations and find
an investor it is seeking, the company said in a statement. 
    Representatives of the two companies will meet on Monday,
Tauron said later on Thursday, adding that it could consider
suspending any further legal action if constructive talks began
which could lead to reaching an agreement.
    Shares in Rafako, which were down by as much as 46% on
Thursday, closed 25% lower. Tauron's shares gained 3.4%. 
($1 = 4.3620 zlotys)  
 (Reporting by Anna Koper; Editing by Alison Williams and
Alexander Smith)
 ((anna.koper@thomsonreuters.com; +48 22 104 25 24; Reuters
Messaging: anna.koper.reuters.com@thomsonreuters.com))