The Daily Docket: Mexico’s Su Casita Plans Debt Swap

By Patrick Fitzgerald

Mexican mortgage lender Hipotecaria Su Casita said Thursday it expects soon to conduct a swap and restructuring of around 7.4 billion pesos ($612 million) in debt which includes transferring up to 50% of its equity to creditors. Read the Dow Jones story in Daily Bankruptcy Review here.

Lehman Brothers Holdings Inc. seeking approval to schedule a Nov. 17 hearing to on its Chapter 11 plan and the U.S. unit of Mexican glass maker Vitro SAB said its ongoing involuntary bankruptcy case is causing its business to suffer. In DBR Small Cap, LTAP US LLLP is seeking to sell life insurance policies that could pay out up to $1.36 billion to a Wells Fargo Bank subsidiary under a deal that prevents the lender from foreclosing on those same assets.

(The Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial to DBR, click here. For DBR SC click here.)

The wives of Washington Mutual Inc.’s two top executives when the nation’s largest thrift collapsed in 2008 were accused by the Federal Deposit Insurance Corp. of illegally moving cash and houses into trusts in an effort to shield the assets from legal claims, The Wall Street Journal reports.

WSJ says he federal rescue of the financial system in 2008 has provided large financial institutions with an unfair advantage in the form of cheaper access to credit, a bailout watchdog warned Thursday.

Deal Journal has the list of the 28 more stores says Borders Group intends to close.

Bloomberg says New Jersey Governor Chris Christie is bucking voter skepticism and pushing ahead with his plan to revive the Atlantic City gambling resort, where casino revenue has plunged the most since the first one opened in 1978.

Posted by: Conrado Garcia Jamin

About northernbarbarians

I'm an activist and advocate for human rights and the establishment of penalties to the simulators and inconsistent. My fight is for respect for universal rights and freedoms. Journalist various print and electronic media in several countries. Independent research analyst of social risks in unions, political, corporate and institutional image. Four books published and three in electronic version. Live one day at a time, even on payments, sometimes alive yesterday. Modest income is the price of freedom.
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