Court grants trustee motion to convert Vitro case to Chapter 7

By Jim Witters

Wilmington, Del., Jan. 13 - The Chapter 11 bankruptcy case of Vitro SAB de CV will be converted to Chapter 7, effective Jan. 20, according to documents filed Friday with the U.S. Bankruptcy Court for the Northern District of Texas.

The debtors agreed with the conversion, the documents state.

In seeking the conversion on Dec. 1, U.S. trustee William T. Neary argued that Vitro continued to dilute the value of its estate with no reasonable likelihood of reorganization.

The debtors sold substantially all their assets to American Glass Enterprises, LLC in June 2011.

Vitro is a Nuevo Leon, Mexico-based glass manufacturer. Its Chapter 11 case number is 11-32600.

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