Rada prolongs bankruptcy shield for energy companies till 2011

Yesterday Rada amended the law 2711, which imposes moratorium for opening bankruptcy procedures of energy companies, prolonging a deadline for the law from Jan. 1, 2009 to Jan.1, 2011. Alexander Paraschiy: News is especially positive for those Oblenergos (and gas distribution companies) which have not yet restructured their outstanding payables: Donetskoblenergo (DOON), Krymenergo (KREN) and Kharkivoblenergo (HAON). With amended law in act, we again recommend investing in DOON.