Mexico's Maxcom Gets Nod For Ch. 11 Restructuring Plan
By Jamie Santo
Law360, Wilmington (September 10, 2013, 5:23 PM ET) -- A Delaware bankruptcy judge gave his blessing to Maxcom Telecomunicaciones SAB's proposed reorganization Tuesday, confirming a Chapter 11 plan that sees the Mexican telecom restructure $200 million in debt and receive a $45 million cash injection from private equity firm Ventura Capital Privado SA.
Maxcom and 14 affiliates entered court protection July 23 after lining support for the prepackaged plan from certain noteholders and equity investors, and the Mexico City-based telecommunication company was able shepherd the deal through to confirmation in brisk fashion.