UPC Polska emerges from Chapter 11

By Jeff Pines

Washington, Feb. 18 - UPC Polska LLC emerged from Chapter 11. Its reorganization plan was confirmed on Jan. 22.

This plan was the company's second. Before bankruptcy the company was a corporation.

As a result of the restructuring, the company issued $105.4 million of new 9% senior notes due 2007, which is its only debt as of the effective date of the restructuring.

Before Chapter 11 cleared the company's of much of its debt, UPC Polska had $945.2 million of debt.

Through its operating units, UPC Polska runs cable television systems in Poland. It is a subsidiary of UGC Europe, Inc.

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