Mexican Telecom Co.'s Chapter 11 Plan Confirmed

Law360, New York (October 27, 2006, 12:00 AM EDT) -- A federal bankruptcy court in Manhattan signed off on Satelites Mexicanos S.A. de C.V.’s Chapter 11 plan Thursday, less than three months after the Mexican radio and telecom company filed for bankruptcy voluntarily in the United States.

On May 25, 2005, holders of prepetition debt securities filed an involuntary Chapter 11 petition against SatMex, also in the U.S. Bankruptcy Court for the Southern District of New York.

In June 2005, SatMex filed for the Mexican equivalent of bankruptcy protection, and in July, an agreement was reached...
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