August 26, 2021 |
Mexican hotel operator Grupo Posadas could discuss filing for Chapter 11 bankruptcy at a shareholders meeting on September 9 as it presents an plan to restructure $393 million in outstanding bonds, a source close to the company told LatinFinance.
"They have not committed to filing for Chapter 11, but they do have it as an option," the source said. "If Chapter 11 is required, it'll be done, but it is something very narrowly tailored that will only affect the bondholders and in no way affect any o
Mexican hotel operator could file for bankruptcy protection if two-thirds of shareholders approve the plan in September