TV Azteca Gets Bankruptcy Protection - LatinFinance
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30 Articles
The Mexican television channel TV Azteca reported that it was formally declared in a commercial contest by a federal judge, in a step that marks the legal beginning of its financial restructuring process, with which it seeks to reorganize its liabilities and guarantee the continuity of its operations. The company has several creditors, including in the United States. It argued that it faces an adverse environment derived from the profound transf…
The court confirms that the television station failed to meet its payment obligations and opens a six-month conciliation process.
Reforma
Judge declares TV Azteca in a commercial contest so it starts a period of one a or in agreement with creditors or be declared bankrupt.
TV Azteca reported this Tuesday that, in accordance with the ruling issued by the First District Judge of Commercial Competitions, it has been declared in a commercial contest. In the strategy of corporate, operational and financial reorganization announced previously, the company indicated that this resolution marks the formal start of the process provided for in the Law on Commercial Competitions and "will allow progress in the orderly reorgan…
A federal judge has declared TV Azteca bankrupt, initiating a one-year period for the broadcaster to reach an agreement with its creditors or, failing that, be declared bankrupt. Tessy del Rocío Covarrubias Torres, First District Judge for Bankruptcy Matters, ruled that Ricardo Salinas Pliego's company is insolvent… Source
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