Mexican Bank Fights Wachovia Appeal

Law360, New York (June 26, 2008, 12:00 AM EDT) -- Casa de Cambio Majapara SA de CV is fighting Wachovia Bank's appeal of a bankruptcy court's refusal to dismiss the Mexican financial institution's Chapter 11 case, saying Wachovia is trying to recover assets at the expense of the debtor's other creditors.

In documents filed Wednesday in the U.S. District Court for the Northern District of Illinois, Majapara accused Wachovia of ignoring the procedural rules governing appeals from the bankruptcy court “in a calculated effort to exacerbate the burden it has already placed on the debtor’s bankruptcy...
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