Vitro Parent Plotting To Buy Back Co., Creditors Say

Law360, New York (May 5, 2011, 5:46 PM EDT) -- Unsecured creditors of Vitro America LLC on Wednesday accused the company of entering a secret deal to sell its assets to its own parent company via an intermediary.

Mexican media reports indicate that Vitro America's parent, Vitro SAB, may acquire part of the company from the stalking horse bidder, the official committee of unsecured creditors said. In an emergency motion, the creditors asked U.S. Bankruptcy Judge Harlin DeWayne Hale to delay a hearing on the sale.

“It is imperative that the committee and other parties of...
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