Vitro’s Troubles Continue

Dec 5 (Reuters) – The United States Bankruptcy Court for the Northern District of Texas ordered that 10 units of Mexican glassmaker Vitro S.A.B. de C.V. (“Vitro”) be put into U.S. bankruptcy, and found that several of them had taken secret steps to prevent creditors from collecting money owed to them. Several U.S. hedge funds, led […]

Read More

Fifth Circuit Rejects Foreign Restructuring Plan

The recent case of In re Vitro S.A.B. de C.V., No 12-10542 (5th Cir. Nov. 28, 2012) involves the recognition and enforcement by a United States Federal Court of a foreign bankruptcy proceeding and foreign plan of reorganization, pursuant to Chapter 15 of the Bankruptcy Code.  An earlier discussion of this case appears in a prior submission entitled […]

Read More

Leading Ice Company Trying to Expand while in Bankruptcy

On April 12, 2012, Reddy Ice filed for chapter 11 bankruptcy in the Northern District of Texas, revealing that it has secured $70 million in debtor-in-posssion financing, which will allow the Company to pay for operating and restructuring costs during its bankruptcy case.  Reddy Ice is the largest manufacturer and distributor of packaged ice in the United States. […]

Read More