UPC Polska's motion opposing SISU's change of witness granted by court

New York, Jan. 16 - UPC Polska Inc.'s emergency objection to SISU Capital Ltd.'s proposal to change its valuation expert witness was granted by judge Burton Lifland in the U.S. Bankruptcy Court for the Southern District of New York.

SISU had wanted to change its expert valuation witness to Rafal Nowakowski from Hexagon Capital, its financial adviser, replacing Dariusz Wiatr, also from Hexagon.

However UPC Polska had objected to the move, filing an emergency motion asking the court to block the change.

"SISU continues to abuse the discovery process by attempting at the eleventh hour to designate a new valuation expert witness," UPC Polska said in its filing with the court.

UPC noted that its attorneys had questioned Wiatr during a full-day deposition.

In a previously filed objection to UPC Polska's plan of reorganization, SISU said it believes the company is purposely undervaluing itself by a significant amount. The company values itself at $234 million, but Hexagon values the company at $529 million to $712 million.

But UPC Polska said Wiatr's qualifications "were significantly called into question" during the deposition.

"SISU is not entitled to replace one poorly performing witness with a new one with the confirmation hearing less than one week away," UPC Polska said in its emergency motion. It cited a case that a party may not change its expert witness, even on a motion, if it is "untimely or prejudicial."

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