TV Azteca to Talk With Creditors After Scolding by US Judge (1)

TV Azteca SAB agreed to negotiate with US bondholders owed $400 million after a US judge warned the second biggest broadcaster in Mexico that it could be forced to participate in a bankruptcy case in New York.

US Bankruptcy Judge Lisa G. Beckerman told the company that it was obvious to her that TV Azteca had to restructure its debt, despite strong resistance from the company. TV Azteca opposes a US bankruptcy and has used court rulings in Mexico to try to block bondholders from collecting on the defaulted bonds.

“Your position that there should be no restructuring is not ...