Mexican Grocery Giant Files For Ch. 15

Law360, New York (July 16, 2010, 3:04 PM EDT) -- Controladora Comercial Mexicana SAB de CV, Mexico's

third-largest grocery operator, has filed a Chapter 15 petition in New York, seeking bankruptcy shelter while it completes a major restructuring in the Mexican courts.

The company lodged the petition Friday in the U.S. District Court for the Southern District of New York, listing both assets and liabilities over $1 billion. The Chapter 15 filing comes days after the company lodged a prepackaged reorganization plan in Mexico.

CCM also filed a request for a temporary restraining order Friday, seeking...
To view the full article, register now.