• Maxcom Telecomunicaciones Files Chapter 11 Bankruptcy
  • July 29, 2013 | Author: Eric J. Monzo
  • Law Firm: Morris James LLP - Wilmington Office
  • On July 23, 2013, Maxcom Telecomunicaciones SAB ("Maxcom"), a Mexico City-based carrier, filed for Chapter 11 bankruptcy court protection in Delaware. Fourteen of the company‚Äôs affiliates (collectively with Maxcom, the "Debtors") have also filed Chapter 11 petitions.

    According to its petition, Maxcom listed $11.1 billion in assets and $402.3 million in debt. As set forth in the declaration of Gonzalo Alarcon I., found here and offered in support of the first day motions, the Debtors contemplate a prepackaged chapter 11 restructuring plan (the "Plan") that will result in the Debtors receiving a $45 million capital infusion from a prospective purchaser, a group of investors led by private equity firm Ventura Capital Privado, S.A. de C.V.

    The lead case is In re Maxcom Telecomunicaciones SAB, 13-11839, U.S. Bankruptcy Court, District of Delaware. Bankruptcy Judge Peter J. Walsh has been assigned to the case.