Creditors Unwittingly Seek Ch. 11 For Mexican Payday Lender

By Rick Archer (June 23, 2022, 3:00 p.m. EDT) – Creditors of Mexican payday and consumer lender Crédito Real have asked a New York bankruptcy judge to send the company into Chapter 11 bankruptcy a week after she defaulted on a $50 million loan.

The three investment funds, which claim to hold just over $8 million in unsecured debentures from Credito Real, filed the petition on Wednesday to place the company, which claims to be working on a debt restructuring since a default. obligation in February, in Chapter 11 without his consent.

Lawyers for the three companies – Institutional Multiple Investment Fund LLC, Banco Monex SA and Solitaire Fund -…

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