Mexican Telecom Maxcom Files For Ch. 11 Again

Law360 (August 19, 2019, 6:16 PM EDT) -- For the second time in six years, Mexican telecommunications provider Maxcom filed for Chapter 11 in a New York bankruptcy court Monday with a prepackaged plan to cut over $36 million in debt that the company says is holding it back from the network upgrades it needs to become profitable.

In its filings, Maxcom USA Telecom, the U.S. subsidiary of Maxcom Telecomunicaciones, said it has the support of the majority of the holders of the $103 million in debt that will be restructured under the plan, which it said it needs in order to raise the capital to expand its network....

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