Vitro may get ruling from U.S. judge on bankruptcy protection soon

Bloomberg
July 15, 2011
COMMERCIAL, RETAIL, FABRICATION : BUSINESS

Vitro SAB, the Mexican glassmaker that defaulted on $1.2 billion in bonds, may get a ruling as early as [this] week on a petition for U.S. bankruptcy protection to apply to its restructuring proceedings in Mexican court, according to a July 14 Bloomberg report.

U.S. Bankruptcy Judge Harlin D. Hale said during a hearing July 13 in Dallas that he'll make a decision in the "next few days" after receiving complete documentation supporting both parties' arguments.

Vitro completed the sale of its U.S. subsidiaries, including Vitro America and Super Sky Products, to Sun Capital affiliate American Glass Enterprises in June.

Read more...