- Two funding funds which can be collectors of Televisión Azteca demand that the Mexican State pay a minimum of $219 million.
STAFF / REFORMA AGENCY
MEXICO CITY.- Two funding funds collectors of Televisión Azteca demand from the Mexican State the cost of a minimum of 219 million {dollars}, about 3.6 billion pesos, for the safety of the capital decide Miguel Angel Robles Villegas to Ricardo’s firm Salinas Pliego.
On Could 14, the Ministry of Economic system (SE) revealed particulars of the arbitration declare filed on August 22, 2023 by the Cyrus Capital and Contrarian Capital funds, which personal a part of the debt bonds for 488 million {dollars} that TV Azteca stopped paying in February 2021.
The funds keep that the precautionary measures that Robles secretly issued in September 2022 to guard TV Azteca from the actions of its collectors, with out giving them the best to a listening to, have prevented them from suing the corporate to gather curiosity on the debt, therefore their declare for compensation from the Mexican State for violations of the North American Free Commerce Settlement (NAFTA).
On February 6, the arbitration tribunal that may resolve the dispute was fashioned, through which the British Lawrence Collins, the Swiss-Australian Zachary Douglas and the British-New Zealander David Cairns take part.
The SE has to pay US and Canadian corporations to defend the case, and an eventual adversarial award in opposition to Mexico must be paid with assets from the federal price range, though the method for the ultimate decision can take two to 4 years.
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