SPX3,825.33+39.95 1.06%
DIA310.85+3.03 0.98%
IXIC11,127.85+99.11 0.90%

Mexico's Credito Real ends relationship with restructuring and legal advisors

Mexico's Credito Real ends relationship with restructuring and legal advisors

reuters.com · 06/10/2022 12:12
Mexico's Credito Real ends relationship with restructuring and legal advisors

- Mexico's Credito Real terminated its contractual agreements with the firms that acted as its restructuring and legal advisors, as it continues to evaluate options for an orderly restructuring process, the company said.

The discount payroll lender informed the Mexican stock exchange late Thursday that it decided to terminate its relationships with DLA Piper LLP, which served as legal counsel, and FTI Consulting, which acted as a restructuring advisor.

"The decision does not shift the company's goal on continuing the evaluation of alternatives to achieve an orderly restructuring process," the firm said in a filing to the stock exchange.

Credito Real announced this week that all value-preserving alternatives are being explored, including a Chapter 11 restructuring process under applicable U.S. law. nE1N2X504C


(Mexico City News Room)

((ana.martinez@thomsonreuters.com; +5255 52827167; Reuters Messaging: ana.martinez.reuters.com@reuters.net; Spanish Desk +562 24374405, Twitter:@ReutersLatam))