Glassmaker Says Bondholders Breached Confidentiality

Law360, New York (April 18, 2011, 8:20 PM EDT) -- Bankrupt Mexican glass manufacturer Vitro SAB de CV filed a suit Thursday in a New York state court accusing a group of noteholders of breaching confidentiality agreements in an attempt to undermine the company's restructuring efforts in Texas.

The disruptive bondholders, including Aurelius Capital Management and Elliott Management Corporation, are using information gleaned from Vitro's good-faith negotiations with its creditors in order to scuttle the glass maker's prospective restructuring plan, according to the complaint, filed in the New York Supreme Court.

Vitro alleges the eighteen defendants...
To view the full article, register now.