Mexico

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Mexico’s Ahmsa Reaches Exit Accord After 15 Years in Bankruptcy

Altos Hornos de Mexico SA, the steelmaker known as Ahmsa, said it asked a judge to end its 15-year bankruptcy following an agreement with a majority of creditors that calls for repayment of $1.7 billion. Creditors will be called to a meeting to confirm t ...

Daily Headline - global.abi.org - 12/17/2014 - 21:51 - 0 comments

Mexico's Urbi Files For Bankruptcy To Restructure Debt

Mexican homebuilder Urbi has filed for bankruptcy protection to restructure its debt, the company said on Tuesday, Reuters reported. The creditors which have so far signed the restructuring plan held some 21.9 billion pesos ($1.55 billion) in debt, equiv ...

Daily Headline - global.abi.org - 12/02/2014 - 22:53 - 0 comments

Mexico’s Bold Move on Debt Restructuring Contracts

No one expects Mexico to restructure its debt anytime soon. But if it ever does, so-called vulture investors like Mr. Singer’s Elliott Management will find it much harder to crash the debt restructuring party – as they have done so successfully in Argent ...

Daily Headline - global.abi.org - 11/12/2014 - 20:48 - 0 comments

Mexico Looks to Raise Wages

Mexico is attracting record levels of foreign investment, boasts a stable economy, and is becoming an export powerhouse in areas like cars and aerospace. But when it comes to one economic measure—its minimum wage—the country lags behind only Haiti in the ...

Daily Headline - global.abi.org - 08/28/2014 - 20:35 - 0 comments

Mexican Authorities Arrest Head of Company Tied to Bank Fraud

Amado Yáñez Osuna, who headed Oceanografía, the oil services company at the center of a $400 million fraud involving Citigroup’s Mexico subsidiary, has been arrested, according to Mexico’s attorney general’s office, the International New York Times D ...

Daily Headline - global.abi.org - 05/29/2014 - 22:06 - 0 comments

Mexican Central Bank Head Warns of Spillover Effects of Dramatic Monetary Policies

The head of Mexico's central bank said Tuesday that he supports the dramatic measures that central bankers in advanced economies have taken to stabilize their economies, but emerging markets must be mindful of the spillover effects these policies ma ...

Daily Headline - global.abi.org - 05/27/2014 - 20:51 - 0 comments

Owner of Bankrupt Mexico Airline Seeking U.S. Asylum

The fugitive businessman who controlled Mexicana airlines before it went bankrupt and was recently charged with illegal use of the airline's funds has asked for asylum in the United States, a federal official said Wednesday, the Associated Press rep ...

Daily Headline - global.abi.org - 05/14/2014 - 20:14 - 0 comments

PRACTICE & PROCEDURE: Revisiting Nondebtor Releases in Chapter 15 Cases

PRACTICE & PROCEDURE: Revisiting Nondebtor Releases in Chapter 15 Cases (citation: Nicholas J. Cremona, Natacha Carbajal and George Klidonas, Revisiting Nondebtor Releases in Chapter 15 Cases, XXXIII ABI Journal 3, 12-13, 89, March 2014) - Nichol ...

Resource Article - abi_editor - 05/13/2014 - 11:40 - 0 comments - 0 attachments

Mexico Homebuilder Homex Files For Bankruptcy, Seeks Financing

Troubled Mexican homebuilder Homex has filed for bankruptcy after gaining the support of a majority of its creditors, the company said on Thursday, Reuters reported. The Culiacan-based company, which has struggled with a heavy debt load and slumping home ...

Daily Headline - global.abi.org - 05/01/2014 - 20:56 - 0 comments

Mexico Homebuilder Geo Enters Bankruptcy Protection

Mexican homebuilder Geo said on Monday that it entered bankruptcy protection after a judge accepted its filing for restructuring, Reuters reported. The company, which said last month that it gained the support of the majority of its creditors in a so-cal ...

Daily Headline - global.abi.org - 04/21/2014 - 21:22 - 0 comments

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