CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA By Alexander Saeedy
A judge on Monday approved the transfer of Mexican non-bank lender Credito Real SAB's involuntary bankruptcy case to Delaware from New York.
Credito Real had petitioned Judge David S. Jones of the Southern District of New York to move all bankruptcy proceedings to Delaware, where the Mexican lender's sole U.S. subsidiary is domiciled.
The Mexican lender has also filed for a chapter 15 bankruptcy in Delaware, where it is requesting that courts recognize the company's continuing liquidation under Mexican commercial law.
The venue transfer doesn't affect the rights of creditors who brought the involuntary bankruptcy against Credito Real or the continuing chapter 15 case, Judge Jones said in his Monday ruling.
Write to Alexander Saeedy at alexander.saeedy@wsj.com
(END) Dow Jones Newswires
08-01-22 1413ET
