• Consensual Deal Ends Restructuring of Vitro S.A.B., de C.V.; Predicting its Potential Impact Begins
  • March 15, 2013 | Authors: Joel H. Levitin; Richard A. Stieglitz
  • Law Firm: Cahill Gordon & Reindel LLP - New York Office
  • The dueling judicial decisions in Mexico and the United States regarding the proposed restructuring of the Mexican enterprise, Vitro S.A.B., de C.V., and its affiliates (collectively, “Vitro”), and its strong opposition by a group of U.S. noteholders, became must-read thrillers for finance and bankruptcy professionals, as well as distressed-debt investors. While a recently announced settlement among the parties appears to have closed the book on this highly publicized restructuring, the various court rulings could have a significant impact on future cross-border restructurings and the willingness of U.S. and other investors to fund foreign companies.