Vitro Bondholders Can’t Collect Until Mexican Plan Ruling

Law360, New York (March 12, 2012, 8:03 PM EDT) -- A Texas federal judge on Monday blocked efforts by hedge funds and other investors in bonds of bankrupt Vitro SAB de CV to collect on judgments until the court decides whether to recognize the glassmaker's Mexican reorganization plan.

U.S. District Judge Harlin DeWayne Hale granted Vitro’s motion for a temporary restraining order, which blocks actions in New York state court by Vitro investors, including affiliates of Aurelius Capital Management LP and Elliott Management Corp. The companies have already won judgments against Vitro over interest from $1.2...
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