May
16

Mexican Steelmaker Ahmsa Emerges From 17-Year Bankruptcy Process

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Altos Hornos de Mexico SA, the steelmaker known as Ahmsa, is exiting the bankruptcy process in Mexico after 17 years of court protection.

A Mexican judge ordered the company’s suspension-of-payments proceedings to be lifted and approved a plan for creditors, effective immediately, the company said in a statement Monday.

The court-approved exit calls for Ahmsa to repay $1.7 billion over three years, the steelmaker said. Most creditors chose to receive company shares for almost half the debt with cash payments covering the rest, reducing the company’s liabilities to $400 million. Ahmsa filed for court protection in May 1999…

Mexican Steelmaker Ahmsa Emerges From 17-Year Bankruptcy Process

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