Vodka Distributor's Ch. 11 Plan Draws Fire From Investor

Law360, Chicago (April 22, 2013, 7:13 PM EDT) -- A Central European Distribution Corp. investor on Monday asked a Delaware bankruptcy judge to pull the reins on the vodka distributor's plan to reorganize under the control of its chairman, Russian billionaire Roustam Tariko, saying a funding agreement underpinning the plan requires "heightened scrutiny."

Eugenio Rainoldi, whose $3.3 million investment is slated to be wiped out under CEDC's Chapter 11 plan, lodged an objection to the company's assumption of the funding agreement, under which Tariko's holding company, Roust Trading Ltd., will make a  $172 million investment in CEDC and forgive a $50 million secured loan in return for equity in the...

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