Vitro US Noteholders Can't Pursue Mexican Parent

Law360, New York (June 24, 2011, 10:49 PM EDT) -- A Texas bankruptcy judge on Friday granted a preliminary injunction to bankrupt glassmaker Vitro SAB de CV barring holders of notes issued by Vitro’s U.S. subsidiaries from pursuing collection actions against their parent while it undergoes reorganization in Mexico.

Vitro argued that its cash flow came primarily from its subsidiaries. It claimed it would be irreparably harmed and the Mexican reorganization process would be thwarted if the noteholders were allowed to proceed with collection suits against the subsidiaries. But U.S. Bankruptcy Judge Harlin D. Hale said...
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