NY Appeals Court Tosses Vitro's Suit Against Creditors

Law360, New York (October 16, 2012, 9:29 PM EDT) -- A New York state appeals court on Tuesday affirmed the dismissal of Vitro SAB de CV's suit accusing Aurelius Capital Management LP and other bondholders, who hold $1.2 billion of Vitro's debt, of breach of contract by divulging confidential information on the eve of the bankrupt Mexican glassmaker's restructuring.

Vitro, which ran into trouble after it defaulted on the debt, has accused bondholders of trying to torpedo its then-proposed restructuring plan and exchange offer with an October 2010 press release that allegedly disclosed Vitro's confidential information...
To view the full article, register now.