Vodka seller Central European Distribution Corp., headed by Russian billionaire Roustam Tariko, won court approval of its pre-packaged restructuring plan a little more than a month after filing for bankruptcy, Bloomberg News reported yesterday. Bankruptcy Judge Christopher Sontchi approved the Warsaw, Poland-based company’s reorganization plan that cuts debt by about $665 million at a hearing today in Wilmington, Delaware, according to court documents. The company expects that it will be able to close on the restructuring transactions on or about May 31, according to the statement. Regulatory agencies in CEDC’s key markets of Poland, Russia and Ukraine already have given their approvals to the deal.
