Several creditors of TV Azteca filed an “involuntary petition” for bankruptcy once morest the Mexican company under Chapter 11 of the United States to demand the payment of debts estimated at 63.3 million dollarsa New York court said Tuesday.
The claim was filed Monday before the Bankruptcy Court for the Southern District of New York by the funds Plenisfer Investments SICAV-Destination Value Total Return, from Luxembourg, the American Cyrus Opportunities Master Fund II Ltd and Sandpiper Limited, from Grand Cayman, according to the document.
Ethe group, controlled by Mexican tycoon Ricardo Salinas, one of the richest men in Mexico, He said in a statement that he will face legal procedures, but keeps the dialogue path open to reach an agreement..
“The company will face any legal process initiated by minority groups of bondholders,” the company said, adding that it will address such processes “responsibly and firmly.”
In the same document, the group indicated that they had learned regarding the legal procedure through the press and that they are willing to talk to reach “a favorable agreement for all parties.”
TV Azteca has been suffering for months under pressure from its creditors to pay your debtswhich at the end of September amounted to 9 thousand 840 million pesos (regarding 526 million dollars), according to its most recent report of results.
In August, the company said that some of its investors had requested early payment of its 2024 bond for a total of 400 million of dollars.
In a statement, TV Azteca said that it “maintains its normal operations to produce and distribute the best content for the audience.”
