Creditors Lose Bid To Push 3 Vitro Units Into Ch. 11

Law360, New York (April 12, 2011, 5:55 PM EDT) -- A Texas bankruptcy court on Monday blocked creditors' attempts to force three U.S. subsidiaries of glassmaker Vitro SA into Chapter 11 protection, just days after four other units of the Mexico-based company sought to auction off their assets.

The U.S. Bankruptcy Court for the Northern District of Texas denied petitions for orders of relief against Vitro Packaging LLC, Vitro Chemical Fibers and Mining LLC and VVP Auto Glass Inc., ruling that they were generally paying their debts as they became due.

Some of the company's creditors...
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.