Mexico's largest glass maker, Vitro SAB, said it intends to file a prepackaged restructuring plan under that country's bankruptcy law no later than next Thursday, Dow Jones Daily Bankruptcy Review reported. The company, which recently launched a plan to restructure some $1.2 billion in debt, said Wednesday it has the "requisite majority" of votes to proceed with a prepackaged plan under concurso mercantil, Mexico's equivalent of Chapter 11.

French bank Natixis Thursday denied allegations made by a trustee seeking to recover assets for victims of Bernard Madoff's investment fraud, The Wall Street Journal reported. A lawsuit filed late Wednesday is seeking around $1.4 billion from seven U.S. and European banks, including Natixis. The trustee, Irving Picard, said the lawsuits, which were filed under seal, accuse the banks of overlooking warning signals about Mr. Madoff's fraud while receiving transfers of money from his firm through so-called "feeder funds" that invested most or all of their assets with him.

AbitibiBowater, the large newsprint maker formed through a merger three years ago, announced it had emerged from bankruptcy protection on Thursday, the International Herald Tribune reported. Debt and declining newsprint demand in North America led the company to seek Chapter 11 bankruptcy protection in Delaware, as well as similar protection under Canadian receivership laws, in April 2009. The restructuring cut the $8.78 billion in debt to just over $1 billion, mainly by having creditors exchange their claims for equity.

The trustee overseeing the bankruptcy of Bernard Madoff's investment firm joined an English liquidator on Wednesday in filing an $80 million lawsuit against former directors of the convicted felon's London operation, including his sons and brother, and related entities, Dow Jones Daily Bankruptcy Review reported. The suit was filed in the United Kingdom's High Court of Justice Commercial Court by trustee Irving Picard and Stephen J. Akers, a joint liquidator of Madoff Securities International Ltd.

Famed-but-failed Calgary chocolatier Bernard Callebaut, the man, is attempting to rebuild his once-proud empire with a new sweets company starting this week. His chief competitor is Bernard Callebaut, the company he founded 27 years ago, The Canadian Press reported. His stores, his recipes and the rights to his name are no longer his he went into receivership earlier this year. He will rely on his skills, pedigree and reputation to craft a new run. The company went into receivership in August. Callebaut made a bid to buy the business back from the receiver, but on Oct.

A unit of HSBC Holdings PLC is protesting an attempt by Bahrain's Awal Bank BSC to pursue Chapter 11 protection in the U.S., saying Awal is seeking to cherry-pick the portions of the Bankruptcy Code it would like to use while ignoring other aspects of the law, Dow Jones Daily Bankruptcy Review reported. HSBC Bank USA, which claims to be among Awal's largest creditors, said the Bahrain bank is trying to take advantage of U.S. laws in an attempt to claw back an errant $13 million wire transfer.

An ocean of red ink has sunk a company that owns several wineries, vineyards and orchards in the south Okanagan, Global Saskatoon reported. The Lang, Soaring Eagle and Stonehill Estate wineries in Naramata, all owned by Holman Lang Vineyards, are now in receivership and are for sale. The company expanded rapidly during the wine industry boom from 2000 to 2007 and was struggling under a crushing $15 million bank debt. A Vancouver accounting firm has been appointed to sell the properties and estimates the company’s assets at approximately $23 million.

Former Anglo Irish Bank Chief Executive David Drumm will have to testify about his assets and conduct running the fallen Irish financial giant, under a deal his attorneys struck in bankruptcy court in Boston on Thursday, Reuters reported. The testimony could paint a much fuller picture of the life that Drumm has been living in Massachusetts after stepping down from the helm of Anglo-Irish at the end of 2008, just before the government nationalized the bank. The collapse of the bank was among the factors leading the country to seek an emergency international aid package last month.

A bankruptcy judge cleared Lehman Brothers Holdings Inc. to sell its Brazil investment business, Libro Companhia Securitizadora de Creditos Financeiros, for nearly $15.9 million, Dow Jones Daily Bankruptcy Review reported. Judge James Peck of the U.S. Bankruptcy Court in Manhattan, approved of the sale Wednesday to a firm called Jive Investments Holding Ltd. In his order, Peck said that Jive's offer was the "highest and best" available and that the sale was in the best interest of Lehman and its creditors.

Canada’s $4-billion infrastructure stimulus program was launched with a single focus in mind: jobs. Now, after surveying those who actually received the federal cash, Parliamentary Budget Officer Kevin Page gives the program poor marks on that goal, The Globe and Mail reported. The survey reinvigorates an unresolved debate that has long pitted the free-market disciples of classic liberal economic thinking against the post-Great Depression view popularized by British economist John Maynard Keynes that government intervention and deficits in hard times work.