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Vitro: court rejects attempt by dissident bondholders to block restructuring

According to Vitro S.A.B. officials, the United States Court of Appeals for the Fifth Circuit has ordered that the dissident bondholders’ New York litigation violated the bankruptcy stay protecting Vitro and its restructuring efforts in Mexico.

Vitro S.A.B. officials reported on 24 January that the United States Court of Appeals for the Fifth Circuit has issued a seventh denial to a group of dissident bondholders, stopping their effort to attack Vitro’s restructuring proceedings in Mexico by means of collateral litigation in New York State court.
The bankruptcy court ordered that the dissident bondholders’ New York litigation violated the bankruptcy stay protecting Vitro and its restructuring efforts in Mexico, and should be enjoined.

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