Vitro SAB is asking a Bankruptcy Judge Harlin DeWayne Hale to enforce its restructuring plan and stop litigation by debt holders who have been fighting to collect on $1.2 billion in defaulted bonds, Bloomberg News reported yesterday. The bondholders have called the plan, which was approved by a Mexican court, "a testament to audacity, brazen manipulation and greed." Enforcing it in the U.S. would be "manifestly contrary" to public policy, they said in court papers. Vitro and bondholders have been fighting over the restructuring in Mexican and U.S. courts, with creditors suing Vitro subsidiaries that guaranteed company debt to recover what they are owed.
