5th Circ. Extends Block On Vitro Debt Collection Efforts

Law360, New York (June 28, 2012, 9:39 PM EDT) -- Vitro SAB de CV bondholders will have to wait to collect on the $1.2 billion owed them, as the Fifth Circuit on Thursday extended a temporary restraining order while it considers whether to enforce the nondebtor affiliate releases in the bankrupt Mexican glassmaker's reorganization plan.

In a short, one-paragraph order, the Fifth Circuit extended the temporary restraining order instituted by a Texas bankruptcy judge, which was set to expire Friday "pending further order of this court."

The appeals court will take up a ruling issued by...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.