Altos Hornos de México (AHMSA) reported that on May 6, the Second District Court Specialized in Commercial Bankruptcy granted it a second extension within the company’s Commercial Bankruptcy.
With this action, the conciliation period with its direct creditors is extended by 90 days, to achieve approval of the agreement that allows the company’s Bankruptcy to end and now this period will end on August 4.
Regarding the Commercial Bankruptcy of the subsidiary Minera del Norte (Minosa), even when the conciliator Víctor Manuel Aguilera presented in a timely manner the agreement supported by 91.25 percent of the registered creditors, the head of the same court declared bankruptcy citing reasons so.
AHMSA considers the resolution totally inadmissible and will present the corresponding legal remedies to reverse said decision and give full validity to the agreement in order to proceed with Minosa’s exit from the bankruptcy proceedings and make way for the resumption of operations.
