Noteholders Aim To Push Vitro America Into Ch. 11

Law360, New York (November 18, 2010, 6:04 PM EST) -- Noteholders owed $75 million by Vitro SAB de CV have moved to force the glassmaker’s American subsidiaries into bankruptcy, saying the debt swap proposed by the company gives them a raw deal.

Knighthead Master Fund LP, Brookville Horizons Fund LP, Davidson Kempner Distressed Opportunities Fund LP and Lord Abbett Bond-Debenture Fund Inc. — which are part of a broader group of Vitro noteholders owed $500 million — filed an involuntary bankruptcy petition Wednesday in the U.S. Bankruptcy Court for the Northern District of Texas.

The move...
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