Central European Distribution Corp. (fka CEDCQ)

[Cubanwinner]

CEDC said that the under its plan, bondholders owed $982.2 million in notes due in 2016 would receive $172 million in cash, $450 million in new secured notes and $200 million in new convertible notes. Another group of bondholders, whose debt is due this year, would receive $25 million in cash and $30 million in notes. Those who hold notes due this year and don't participate in the offer would share in $16.9 million in cash. The plan is being funded by Roust in exchange for ownership of the company.

CEDC said that nearly all of its creditors have already voted in favor of the reorganization plan. It filed its bankruptcy paperwork Sunday and plans to hopes to get approval for the plan within 30 to 45 days.

Read more here: http://www.miamiherald.com/2013/04/08/3329963/cedc-files-for-bankruptcy-protection.html#storylink=cpy