Vodka Maker Roust Gets Prepackaged Ch. 11 Plan Approved

Law360, New York (January 6, 2017, 7:59 PM EST) -- Vodka producer Roust Corp. on Friday got the green light to move forward on a prepackaged Chapter 11 plan, allowing the Russian Standard Group subsidiary to reduce its noteholder debt by hundreds of millions, as a New York bankruptcy judge cast aside a lone objection from the U.S. trustee.

Roust filed for Chapter 11 protection on Dec. 30, with a prepackaged plan that seeks to reorganize about $1.14 billion in debt. Though the proposal received full support from all voting creditors, Trustee William K. Harrington filed an objection earlier this week, expressing concern that the plan was being pushed through at an...

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