Tag Archive | "belvedere"

French group Belvedere To Resume Investments In Ukraine

French group Belvedere To Resume Investments In Ukraine

French Alcohol Group Belvedere is planning to resume sales of its well-known Sobieski vodka brand in Ukraine and to increase investments into the market, which were suspended due to litigations. According to the Ukrainian branch of the company, Belvedere has settled all the disputes with its creditors and ready to resume investments in the Ukrainian market. As the general director of Belvedere Ukraine Vladimir Pritouliak has told, the Ukrainian branch of the company has suffered more than its other units due to absence of investment for almost a year", - he said. "Belvedere Ukraine" had to stop advertising of its brands and to reduce production from 89,000 cases in 2008 (one case - 9 liters), to only 57,000 cases since the beginning of the current year. [...more]

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Belvedere’s Restructuring Plan Accepted By French Court

Belvedere’s Restructuring Plan Accepted By French Court

A court in Dijon in France has approved the restructuring plan of Belvedere, the French vodka producer which owns Sobieski, the popular Polish vodka brand. In July 2008 the producer was granted six months' protection from creditor-led bankruptcy by the French court. In January 2009 the protection was extended for another six months. However, in mid-April creditors which own around 50% of Belvedere's bonds petitioned the Polish district court to declare the Polish subsidiaries insolvent. At present Belvedere owes €550m. The plan stipulates that the company will have to pay its debt in instalments between 2010 and 2015. [...more]

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Thursday, November 23, 8:35 pm

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