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Vitro confronts bondholders over bankruptcy plan approval

Post Time:Jun 04,2012Classify:Industry NewsView:102

After the U.S. recession and bad bets on derivatives contracts sent Mexican glassmaker Vitro SAB into bankruptcy, the company has a restructuring plan in place. At least in Mexico. Now, Vitro is asking U.S. Bankruptcy Judge Harlin DeWayne Hale in Dallas to enforce the plan and stop litigation by debt holders who have been fighting to collect on $1.2 billion in defaulted bonds, according to a June 4 report from Bloomberg BusinessWeek.


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Source: http://www.glassmagazine.com/news-item/commercial/vitro-confronts-bondholders-over-bankruptcy-plan-approval-129764Author:

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