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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.