Mexican Judge Gives Final Nod to Vitro

Mexican Judge Gives Final Nod to Vitro

Mexico Corporate & Sovereign Strategy

Mexico’s Fourth District Court for Civil and Labor matters issued a final approval for Vitro’s debt restructuring plan. The troubled Mexican glassmaker is pushing forward with a $3.6bn debt restructuring that has angered bondholders. The court’s ruling in essence gives the company a stamp of approval for the proposal using the Mexican insolvency law, Vitro says. Despite bondholder opposition, the company has so far managed to approve the plan by using roughly $1.9bn in intercompany debt to give

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