Mexico's Maxcom Seeks Ch. 11 Protection

Law360, New York (July 24, 2013, 1:31 PM EDT) -- Mexico’s Maxcom Telecomunicaciones SAB filed for Chapter 11 protection Tuesday in Delaware bankruptcy court, with a prepackaged plan for recapitalization and debt restructuring involving a $45 million cash infusion and tender offer for all its shares from private equity firm Ventura Capital Privado SA.

The Mexico City-based telecommunications company listed around $11 billion in assets and approximately $402 million in debt. Fourteen of the company’s affiliates filed for protection as well.

Maxcom, Ventura, an ad hoc group holding about $86 million of Maxcom’s senior notes and...
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