Vitro Seeks Solution to Debt Restructurring Issue
June 26 (Bloomberg) -- Vitro SAB Chief Executive Officer Hugo Lara and Chairman Adrian Sada discuss the Monterrey, Mexico-based bottle company's $1.2 billion bond default in 2009 and the company's effort to restructure. A U.S. bankruptcy court rejected a bankruptcy plan approved in February by a Mexican court.
Paul Singer's Elliott Management Corp. and other U.S. bondholders opposed the Mexican restructuring plan. They want bonds, a cash payment and 61 percent of Vitro's stock. They speak with Bloomberg's Brendan Case and Kambiz Foroohar for this feature article in the August issue of Bloomberg Markets magazine. (Source: Bloomberg)