Vodka Maker CEDC Hits Ch. 11 To Shed $665M in Debt

Law360, Wilmington (April 8, 2013, 6:12 PM EDT) -- Central European Distribution Corp. sought protection in Delaware bankruptcy court Sunday with a prepackaged Chapter 11 plan that would slash the liquor giant's debt by more than $665 million and hand full control of the reorganized company to Russian billionaire Roustam Tariko.

CEDC — a New Jersey-based holding company that encompasses vodka distilleries and alcohol distribution operations in Poland, Russia and other Eastern European countries — and its two U.S. subsidiaries entered Chapter 11 listing $1.98 billion in assets and liabilities of more than $1.74 billion,...
To view the full article, register now.