Court Accepts Vitro Bondholder Appeal

Court Accepts Vitro Bondholder Appeal

Mexico Corporate & Sovereign Strategy

A Mexican court has accepted an appeal by bondholders to Vitro’s controversial debt restructuring plan. Mexico’s Juez Cuarto de Distrito en Materia Civil y del Trabajo in Monterrey admitted the appeal but the sentence approving Vitro’s restructuring still stands, the company points out. The Mexican glassmaker has insisted that its plan, approved last week, to restructure $3.6bn in debt is sound and has received the go ahead from federal and judicial authorities, despite bondholder protests. The

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