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
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.
Need more info and analysis about the issues?
Subscribe to AGRR Magazine.