Polish court dismisses Bank of NY Mellon lawsuit against Belvedere

By Jennifer Chiou

New York, Jan. 21 - Belvedere SA announced that the Supreme Court of Poland has definitively dismissed the Bank of New York Mellon's secondary proceedings against the company's Polish subsidiaries.

The irrevocable ruling was entered on Wednesday.

The company already said that the €375 million of claims covering the principal of its floating-rate notes were included under the previously approved plan.

On Dec. 15, a Court of Dijon judge accepted the floating-debt claim from the Bank of New York Mellon on a provisionary basis, and the company said it hoped the court would make a permanent decision shortly.

Based in Beaune, France, Belvedere is a producer and distributor of alcoholic and non-alcoholic beverages.

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