Collectors file for chapter of TV Azteca in the US to gather money owed

A number of TV Azteca collectors have filed an “involuntary petition” for the Mexican firm’s US Chapter 11 chapter in search of Paying money owed estimated at $63.3 millionNew York courtroom stated Tuesday.

The lawsuit was filed Monday in Chapter Court docket for the Southern District of New York by Plenisfer Investments SICAV-Vacation spot Worth Mixture Funds, of Luxembourg, and American Cyrus Alternatives Grasp Fund II Ltd and Sandpiper Restricted, of Grand Cayman, in keeping with the doc.

Andmanaged group Written by Mexican businessman Ricardo Salinas, one of many richest males in Mexico, He stated in a press release that he would face authorized measures, however saved the trail of dialogue open to succeed in an settlement..

The corporate will face any authorized proceedings initiated by minority teams of bondholders,” the corporate stated, including that it’ll deal with such operations “responsibly and firmly.”

In the identical doc, the group indicated that it had realized of the authorized proceedings by means of the press and that they had been prepared to speak to succeed in a “win-win settlement”.

TV Azteca has been struggling for months beneath strain from its TV collectors to pay your money owedwhich reached on the finish of September 9 thousand 840 million pesos (about 526 million {dollars}), in keeping with the most recent report of the outcomes.

In August, the corporate stated a few of its buyers had requested early reimbursement of the 2024 bonds in a lump sum 400 million of {dollars}.

TV Azteca stated, in a press release, that it “maintains its pure processes of manufacturing and distributing the most effective content material to audiences.”

Myrtle Frost

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