Bruce Willis Thirsts for Vodka Justice

Three years after lending his image to promote Sobieski vodka in the U.S., actor Bruce Willis is trying to get his paycheck.

Representatives of Mr. Willis will meet in Paris on Tuesday with other creditors of French liquor company Belvédère SA, owner of the Sobieski brand, to decide how to restructure the firm’s debt of €744 million ($976.9 million).

At issue for Mr. Willis is €20 million that he was promised in the event that the value of his original compensation—a 2.6% stake in Belvédère—fell beneath a certain threshold.

Under the proposed debt-rescheduling arrangement that will be submitted to bondholders, suppliers and banks, Mr. Willis may recover part of the €20 million Belvédère promised to pay him for endorsing Sobieski in the U.S., according to a court-appointed administrator of the troubled company. But Mr. Willis is almost certain to lose most of the 2.6% he owns in Belvédère, said Frédéric Abitbol, the administrator.