News

FRANCE: Belvédère relaunch on-track, despite debt ruling - lawyer

Most popular

just-drinks speaks to Beam Suntory CEO - Part II

just-drinks meets Beam Suntory CEO Albert Baladi

Lift our heads out of our drinks - Trends

What does the future hold for Champagne? - Focus

Why the wine consumer is getting angry - Comment

MORE

A French court ruling to recognise the case of creditors due a total of EUR375m (US$535m) from struggling drinks group Belvédère will not damage the firm's relaunch plan, its lawyer has told just-drinks.

A court in Dijon, eastern France, approved a plan last month to reschedule Belvédère debt repayments over a 10-year period. But, the same court subsequently also recognised the case of creditors.

Belvédère, placed under bankruptcy protection by the court last year, is appealing the ruling regarding its creditors.
 
"This plan encompasses all of Belvédère's debts so if the appeal was rejected it would in no way represent a change for the worse for the group," Belvédère's Lyon-based lawyer, Alain Ribeyre, told just-drinks this week.
 
"If the court decision is overturned on appeal, then the repayment of the EUR375m would come after the 10-year period had elapsed on the other debts."
 
Meanwhile, the deadline has passed for the submission of bids for Belvédère's Marie Brizard business which produces William Peel Scotch whisky. 

It remained unclear which companies have expressed formal interest in the group, but Ribeyre previously told just-drinks that Quartier Français, La Martiniquaise and Russian vodka group Kaufmann were interested. 


Related Content

If you read only one thing... - This week's must-reads on just-drinks

If you read only one thing... - This week's must-reads on just-drinks...

SPI Group 'disappointed' over Stolichnaya ruling

SPI Group 'disappointed' over Stolichnaya ruling...

If you read only one thing... - This week's must-reads on just-drinks

If you read only one thing... - This week's must-reads on just-drinks...

If you read only one thing... - This week's must-reads on just-drinks

If you read only one thing... - This week's must-reads on just-drinks...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?