10 Vitro Affiliates Pushed Into Bankruptcy

Law360, New York (December 5, 2012, 10:27 PM EST) -- A Texas bankruptcy judge on Tuesday forced 10 affiliates of bankrupt Mexican glassmaker Vitro SAB de CV into insolvency after learning that they had taken steps to evade collection of the $1.2 billion they owe U.S. bondholders.

U.S. Bankruptcy Judge Harlin D. Hale granted the involuntary bankruptcy petitions despite the affiliates' claims that the motions should be denied because of a bona fide dispute regarding the amounts of the debts in question.

Judge Hale said a New York state trial court and an appeals court had...
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