Texas Bankruptcy Court Issues Ruling Favorable to Vitro
April 26, 2011
Vitro S.A.B. de C.V. announced today that the pending rulings regarding the involuntary petitions for orders for relief against Vitro Asset Corp., Troper Services, Inc., VVP Holdings LLC., Amsilco Holdings, Inc., B.B.O. Holdings, Inc., Binswanger Glass Company, Crisa Corporation and V-MX Holdings LLC., which comprised the remaining U.S. subsidiaries of Vitro for which such orders were pending, were denied by the U.S. Bankruptcy Court for the Northern District of Texas.
“With this ruling, the involuntary petitions for orders for relief against all of Vitro’s U.S.-based subsidiaries involved have been denied by the U.S. Bankruptcy Court for the Northern District of Texas,” says Albert Chico Smith, a Vitro spokesperson. “On the other hand, the Court has given orders for relief to continue with the voluntary Chapter 11 process regarding the other four affiliate companies [Vitro Packaging, LLC, Vitro Chemical, Fibers and Mining LLC and VVP Auto Glass Inc.] that comprise the Vitro America Group in the U.S.”
Earlier this month orders for relief that had been filed against other Vitro subsidiaries, including Vitro Packaging LLC, Vitro Chemical Fibers and Mining LLC and VVP Auto Glass Inc., were also denied.
Need more info and analysis about the issues?
Subscribe to AGRR Magazine.