TV Azteca Files Chapter 15 Proceeding in the U.S. to Support Reorganization
TV Azteca, one of the largest producers of Spanish-language television content globally, has filed a Chapter 15 proceeding under U.S. law with the Southern District of New York court. The move aims to formally recognize its ongoing Mexican concurso mercantil process in the United States and facilitate creditor participation from both countries. This action is intended to protect TV Azteca's assets within the U.S., ensure obligations are addressed transparently, and provide a structured path for reorganization under clear legal guidelines. The company emphasized that this step supports its commitment to maintaining operational continuity while strengthening long-term financial stability through an orderly process. By leveraging Chapter 15 of the Bankruptcy Code, TV Azteca is seeking greater certainty in navigating international creditor claims as it progresses toward resolving its financial challenges.