Mexico's Credito Real Will Fight Involuntary Chapter 11 Petition

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Mexico's troubled payroll lender Credito Real said in filing to the Mexican stock exchange late Wednesday that it was aware of claims of a filing of an involuntary chapter 11 bankruptcy petition, which it would fight once the petition was served, Reuters reported. "The company believes the Involuntary Petition is improper and was filed as a litigation tactic in the U.S. by certain alleged minority creditors to gain leverage in negotiations with the company," Credito Real said. Read more.