AlphaCredit May Be Sold Under Agreement With Bankruptcy Lenders

AlphaCredit Capital’s Mexico-based affiliates may be sold as part of a restructuring to repay creditors, a company lawyer said in court Wednesday.

• The company will attempt to market itself as a going concern, Andrew Zatz, a lawyer for Alpha’s Colombia business told a bankruptcy judge in Wilmington, Delaware
• The announcement was made at the insistence of noteholders, who have demanded that AlphaCredit submit to a chief restructuring officer as a condition of getting a $45 million loan to fund the bankruptcy case of the Colombian units
• Both the Mexican and the Colombian operations will have a CRO appointed ...