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Vitro reached stay in litigation with derivatives financial counterparties

Post Time:Nov 12,2013Classify:Industry NewsView:36

Vitro S.A.B. de C.V., Mexico, announced today that has reached stay agreements with Credit Suisse, Calyon, Merrill Lynch, Barclays and Citibank, counterparties of derivative financial instruments, according to a March 17 company release.

In accordance with these stipulations, the parties have agreed to a continuance of the deadline for the filling of Vitro’s initial responsive pledging in the Supreme Court of the State of New York and a stay of the litigation processes until April 24, 2009, allowing parties time to negotiate solutions and reach a satisfactory mutual and final agreements.

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