Vitro Wants $1.6B Judgment Against Protesting Bondholders

Law360, New York (December 18, 2012, 3:43 PM EST) -- Bankrupt Mexican glassmaker Vitro SAB de CV said Monday it was seeking a $1.6 billion judgment in Mexican court against a group of bondholders, including several private equity companies, for attempting to scuttle the company’s restructuring plan and force it into involuntary bankruptcy.

Vitro wants money currently held in a Mexican trust for damages related to the bondholders’ rejection of its restructuring plan, which was approved by a Mexican court in February but subsequently rejected by U.S. state and appeals courts.

"The new bonds issued and...
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