Maxcom seeks bankruptcy in the United States

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The firm said bankruptcy anticipates a debt exchange with which senior promissory holders – due in 2020 – will receive new promissory notes and cash.



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Holders of two-thirds of the additional notes have agreed to the swap and unclaimed general and capital claims will not be affected, Maxcom reported.
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When a company adheres to bankruptcy protection, what it does is limit creditors so they can't sue, take assets or close it. This is so that the company continues to operate, that its value is not lost and that an agreement is reached with the people, companies or institutions to which it owes them.

After the announcement, the price of its shares in the Mexican Stock Exchange (BMV) registered a 5.6% drop to 1.7 pesos. And so far this year, the value accumulates a loss of 70%.

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Source link
https://expansion.mx/empresas/2019/08/19/maxcom-busca-declararse-en-la-bancarrota-en-eu

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