US Bank Goes After Vitro Units To Recoup $311M In Debt

Law360, New York (February 23, 2012, 6:10 PM EST) -- U.S. Bank NA on Wednesday hit subsidiaries of bankrupt Mexican glassmaker Vitro SAB de CV with a breach of contract suit in New York, seeking to recover more than $311 million in unpaid principal and interest on notes the company issued.

U.S. Bank, the indenture trustee for the notes, also wants the court to block the defendants from shirking their alleged obligations over the debt through Vitro's insolvency proceedings in Mexico. The bank says the Vitro units guaranteed the payment of the notes, but the company's...
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