Mexico’s Unifin Files Restructuring That Gives Creditors Control

Unifin Financiera SAB de CV has submitted a restructuring deal before a Mexican bankruptcy court that will turn control over to creditors and infuse the lender with government financing.

A judge in Mexico City is weighing the plan, which the company filed last week after winning support from a majority of creditors. A Unifin representative confirmed the submission of the plan to the court.

Unifin earned their backing after sweetening the offer for unsecured debt holders — including those with $2.4 billion of foreign bonds. They will now receive as much as 80% of the equity in the restructured ...