Vitro Ordered To Pay Bondholders Interest On $1B Debt

Law360, New York (December 21, 2011, 4:28 PM EST) -- A New York state judge ruled Monday that some affiliates of bankrupt Mexican glass manufacturer Vitro SAB de CV are on the hook for interest on $1.2 billion worth of debt held by bondholders affiliated with Aurelius Capital Management LP and Elliott Management Corp.

Judge Bernard Fried rejected the contention by Vitro — which hasn't paid interest on the debt since 2008 and is now under bankruptcy protection in the U.S. and Mexico — that a ruling would interfere with its Mexican bankruptcy proceeding, brushing the...
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