Vitro Asset seeks discovery protection or venue hearing postponement

By Caroline Salls

Pittsburgh, Jan. 4 - Vitro Asset Corp. and the other debtors in the involuntary bankruptcy case filed against Vitro SAB de CV's U.S. subsidiary guarantors have asked the U.S. Bankruptcy Court for the Northern District of Texas to protect them from noteholder discovery requests or continue the hearing on a noteholders' motion to transfer the parent company's Chapter 15 bankruptcy case to the Northern Texas court.

As previously reported, Vitro has filed a cross motion to transfer the involuntary case to the U.S. Bankruptcy Court for the Southern District of New York, where the Chapter 15 case is located.

According to the protection motion filed Jan. 4, Vitro Asset is also requesting a continuance of the hearing on the cross motion if the discovery is allowed.

Vitro Asset said the continuance would give the involuntary case debtors more time to respond to discovery requests.

Vitro Asset said these discovery requests "are the latest tactic of the dissident minority noteholders in furtherance of their calculated scheme to frustrate, if not derail, the efforts of Vitro SAB, the parent company of the alleged debtors, to consummate a pre-packaged consensual restructuring under Mexican law."

"This scheme began with the improper and unjustifiable filing by the dissident minority noteholders of the involuntary cases, continued with the motion to transfer venue, and now continues in the form of the excessive and unnecessary discovery requests," Vitro Asset said in the motion.

"The discovery requests are a fishing expedition designed to saddle the alleged debtors with overly broad discovery obligations that are in large part irrelevant to the issues raised in the cross motion."

The venture transfer hearing is scheduled for Jan. 6.

Vitro is a Nuevo Leon, Mexico-based glass manufacturer. An involuntary bankruptcy case was filed against its U.S. guarantor subsidiaries on Nov. 17 in the U.S. Bankruptcy Court for the Northern District of Texas. The Chapter 11 case number is 10-47470.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.