FRANCE: Court to clear Belvédère debt plan
Judicial administrators have accepted the debt rescheduling plan of embattled French drinks group Belvédère at a behind-closed-doors hearing, the firm has said.
However, the commercial court in Dijon, eastern France, has deferred final judgement on the plan until 10 November, the group said today (13 October).
Belvédère, which is under bankruptcy protection, will publish half-year results on 30 October.
Belvédère president Jacques Rouvroy said prior to this week's private hearing that he expected approval of the debt plan, "which is totally credible and spreads out the entire debt (estimated at EUR550m) over a ten-year period".
He added it "made provision for the disposal of a number of significant assets". He did not rule out the sale of Marie Brizard before the end of 2011, as previously speculated.
Thai Public Beverage Co has shown interest in acquiring the Marie Brizard drinks business from French firm Belvedere, according to a report....
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