Court deems Vitro units' involuntary Chapter 11 cases dismissed

By Caroline Salls

Pittsburgh, July 26 - The creditors that filed an involuntary Chapter 11 bankruptcy case against Vitro, SAB de CV's U.S. subsidiaries received confirmation from the U.S. Bankruptcy Court for the Northern District of Texas that the involuntary cases have been dismissed, according to a Monday court filing.

According to the motion, the bankruptcy court issued two orders in April denying the petitioners' orders for relief against some of the Vitro subsidiaries and then denied the petitioning creditors' motion for reconsideration of the denials earlier this month.

The creditors said they asked the court to clarify that the denial orders meant that the involuntary cases were dismissed and that no stay applied to the involuntary debtors and their property.

As previously reported, Knighthead Master Fund, LP, Brookville Horizons Fund, LP, Davidson Kempner Distressed Opportunities Fund LP and Lord Abbett Bond-Debenture Fund, Inc. filed an involuntary bankruptcy case against the Vitro subsidiaries in November 2010.

Vitro is a Nuevo Leon, Mexico-based glass manufacturer. An involuntary bankruptcy case was filed against its U.S. subsidiaries on Nov. 17, 2010. An order of relief was entered for some of the subsidiaries in April, and they have since been operating as debtors in possession. The Chapter 11 case number is 11-32600.

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