Unifin, immersed in a restructuring process since last year after announcing non-payment of interest and debt capital, said in a statement sent to the Mexican stock market on Thursday night that the deadline to reach an agreement expired on October 29. conciliatory.
“If the aforementioned extension did not exist, the bankruptcy process would be at risk of becoming a process in the bankruptcy stage of the Company,” warned the financial company, which urged its creditors to avoid reaching that situation.
Last September, the company presented a proposed Bankruptcy Agreement (the “Draft Bankruptcy Agreement” or the “Plan”, interchangeably), which reflects the latest restructuring project of the Company.
“The Company considers that the Plan comprises the main terms and conditions of a restructuring agreement that allows the Company to exit the bankruptcy process to which it is subject, resume the ordinary course of its operations, preserve jobs and generate recovery, as a going concern. , for the different interest groups, subject to obtaining the consent of their creditors,” he explained.
Bankruptcy is a legal resource that companies resort to to enter into negotiations with their creditors when their liabilities reach a level that prevents them from continuing to pay.
Among those affected by Unifin’s defaults were several banks, including development banks Nafin and Bancomext.
With information from Reuters