Singer’s Hedge Fund Fights Mexico Elite in Legal Showdown

Bloomberg, 6/26/12

Photo by Flikr user LyfetimeThe whir of activity gives no indication that Vitro has been fighting its way through Mexican and U.S. courts — or that it’s waging a bare-knuckle brawl with a number of hedge funds, including Paul Singer’s Elliott Management Corp…

As the Singer-Vitro battle sprawls across two countries, it’s pitting one of the world’s most successful hedge fund managers against one of Mexico’s elite industrial families. At its heart is a reorganization strategy that Vitro adopted to turn its subsidiaries into its major creditors, enabling them to outvote American bondholders like Singer.

The case is testing the extent to which Mexico’s bankruptcy law applies in the U.S. — an outcome that may shape future deals.

Read More…

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 10,631 other followers