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Vitro units ordered to withdraw consent to restructuring plan

Post Time:Dec 19,2011Classify:Industry NewsView:92

Units of Vitro SAB, the Mexican glassmaker that defaulted on $1.5 billion of bonds, were ordered by a New York judge to withdraw consent to a restructuring plan in a Mexican bankruptcy court, according to a Dec. 19 Bloomberg BusinessWeek report.

Roberto Riva Palacio, a Vitro spokesman, confirmed the ruling in an e-mail to Bloomberg. Vitro “is not in agreement and as such we will exercise our right to challenge it,” he wrote.

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