Credito Real Declared in Mexico Bankruptcy Protection: Reforma

Credito Real was declared in “concurso mercantil” or bankruptcy protection by a Mexican court, Reforma reported Tuesday.

• Judge Olga Borja accepted the request which includes a restructuring plan that already has approval from the owners of more than half of the unsecured debt, which at the end of July amounted to $1.9b, Reforma reported
• Judge opened a 185 day period to formalize the final version of the agreement with creditors: Reforma
• NOTE: Credito Real Files Holder-Backed Insolvency Deal in Mexico

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