Judge Decides to Delay Ruling on Possible Involuntary Bankruptcy for Vitro Subsidiaries
April 4, 2011

A federal bankruptcy ruled Friday that he will decide at a later, unknown date whether subsidiaries of Mexico-based glass manufacturer Vitro SAB will be placed into involuntary Chapter 11 bankruptcy. The decision came as a court hearing in Fort Worth, Texas, wrapped up on Friday, according to an article in Business Week.

Four Vitro creditors, unhappy with a debt settlement offer, had filed a petition for involuntary bankruptcy in November 2010 against 15 of Vitro's U.S. subsidiaries, including Vitro America, Binswanger Glass Co. and Super Sky Products. Judge Russell Nelms began a hearing March 31 at the request of creditors, and concluded the hearing on April 1 with the decision to make a later ruling.

At press time, glassBYTEs.com™ was awaiting a statement from Vitro. Stay tuned to glassBYTEs.com for updates as they occur.


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