Mexico’s Credito Real says commercial court ordered its judicial liquidation
MEXICO CITY (Reuters) – A business court docket acknowledged the dissolution of Mexico’s Credito Actual and ordered its judicial liquidation, the troubled payroll lender mentioned in a submitting on Thursday.
Credito Actual, reeling from a bond default, mentioned in June it was aiming for an orderly restructuring of its debt.
Mexico’s inventory change suspended the agency’s itemizing final month after the corporate struggled to satisfy its monetary obligations.
Shares in Credito Actual fell greater than 95% between January 2022 and its suspension.
The corporate’s board resigned in June after it reduce ties with restructuring and authorized advisors.
Credito Actual in February defaulted on a 170 million Swiss franc ($183 million) bond, prompting credit standing cuts by S&P and Fitch Scores and a debt restructuring course of.
The corporate didn’t reply instantly to a request for remark.
(Reporting by Carolina Pulice; Writing by Valentine Hilaire)
