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Vitro Asks Court to Compel Barred Mexican Bankruptcy Plan

Post Time:Oct 06,2012Classify:Industry NewsView:38

Vitro SAB, the Mexican glassmaker seeking to salvage its restructuring, urged an appeals court to enforce its bankruptcy plan in the U.S. over opposition from hedge fund Elliott Management Corp. and other creditors.

Vitro is facing “legal chaos” with a bankruptcy plan that’s valid in Mexico and unenforceable in the U.S., Vitro attorney Andrew Leblanc told the U.S. Court of Appeals in New Orleans today.

“Vitro would be crippled in the United States” if a bankruptcy judge’s decision that denied enforcement of the plan in the U.S. is upheld, Leblanc said.

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Source: http://www.glassonweb.com/news/index/17241/Author:

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