Surety Insurer Rips Vitro Ch. 11 Sale Of US Assets

Law360, New York (May 3, 2011, 2:57 PM EDT) -- The U.S. debtor affiliates of Vitro SAB de CV are separate entities and should not be sold together, an insurer that issued more than $100 million in surety bonds to the bankrupt Mexican glass manufacturer told a Texas bankruptcy court Monday.

Newark, N.J.-based International Fidelity Insurance Co. has potential exposure to $102 million in bonds guaranteeing various of the debtors' U.S. business operations, it told the bankruptcy court, some $20 million of which are for jobs that are not complete.

The debtors' sale motion, lodged April...
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