Tv Azteca commercial bankruptcy judge admitted

Tv Azteca’s bankruptcy petition was filed before the first district court for commercial bankruptcy in Mexico City, headed by Judge Nataly Pérez Hernández, under file 22/2026, according to what was reported by the Federal Institute of Commercial Bankruptcies (Ifecom).

This at the same time that the television station’s lawyers seek to avoid an in-person conference before the court of the southern district of New York in the United States, where its creditors warned that the lack of information on the part of the Mexican company makes a summary trial necessary and escalate responsibility to Grupo Salinas and its president Ricardo Salinas Pliego.

After Grupo Salinas announced on February 26 that its shareholders agreed to request a voluntary bankruptcy to reorganize the company in both its operational and financial aspects, the formal request of the television station – which requests judicial assistance given its inability to pay its creditors – has already been filed in the Ifecom courts.

Tv Azteca resorts to the bankruptcy process after recognizing that the drop in its income due to the advance of digitalization, the economic crisis derived from the coronavirus pandemic and debts with bondholders in the United States and with the Mexican treasury, have led it to request judicial assistance. Commercial bankruptcy is used for companies to reach agreements with their creditors before seizures or bankruptcies.