November 29, 2012
A US court has rejected Vitro’s appeal of an earlier bankruptcy court rulin
A US court has rejected Vitro’s appeal of an earlier bankruptcy court ruling, the glassmaker says, meaning its Mexican court-approved bankruptcy plan won’t be enforced in the US. Saying it is “disappointed” with the ruling, Vitro plans to consider its next legal steps in order to have the plan enforced in the United States. The bankruptcy court ruled in June that Vitro’s Mexican bankruptcy agreement was contrary to US law. Vitro defaulted on $1.5bn in debt in 2009.