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Court extends order blocking Vitro bondholders from seizing assets

Post Time:Jun 29,2012Classify:Industry NewsView:64

The U.S. Court of Appeals in New Orleans temporarily extended a stay that a bankruptcy judge in Dallas imposed earlier this month when he refused to enforce Vitro’s Mexican reorganization plan in the U.S., according to a June 28 Bloomberg report.

The extension blocks Vitro bondholders from seizing assets of the Mexican glassmaker. The appeals court said the temporary stay it imposed will remain in effect “pending further order of this court,” according to Bloomberg.

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