Mexico Will Not Answer for Salinas Pliego’s Debt: A Defeat for US Creditors
A World Bank tribunal unanimously tossed the US funds’ US$219M claim over TV Azteca’s bonds and ordered them to cover Mexico’s arbitration costs.
TV Azteca
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There Are 600 Creditors of TV Azteca; 228 Have Gone at Least a Month Without Being Paid
A court found Ricardo Salinas Pliego’s TV Azteca insolvent, holding just 7.07% of assets against its debts as US bondholders chase a $400 million default.
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TV Azteca Declares Insolvency, Will File for Voluntary Bankruptcy Proceedings
The network, which is owned by ultra-right winger Ricardo Salians Pliego and operates a concession granted to it by the Mexican state, appears to have been viable only if it never had to pay taxes.
