A judge from the United States fired A petition from bankruptcy involuntarily against TV Azteca, billionaire-owned Ricardo Salinas Pliego, following a petition filed by bondholders for delinquency in payments.
Judge Lisa Beckerman’s decision, released Monday evening, grants TV Azteca’s motion to dismiss on the grounds that the claims of the petitioning creditors are subject to a bona fide dispute.
“Creditor-claimants may not voluntarily waive their right to the redemption premium lest their claims be subject to a bona fide challenge,” the decision states.
Photo: Reuters
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Azteca TV broadcast $400 million in unsecured notes in 2017 and began defaulting on payments in 2021, according to creditors.
A company representative declined to comment.
In March, a group of three creditors filed a lawsuit in the United States against TV Azteca seeking forced bankruptcy, alleging that the firm failed to pay $63.3 million in debt.
TV Azteca has been under pressure from creditors for months to pay its debts, which stood at P9.840 million at the end of September. (Reuters)
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Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
