Motion for Case Dismissal Filed by Crédito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Múltiple, Entidad No Regulada
July 14, 2022 at 12:00 am EDT
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Credito Rel, S.A.B. de C.V., SOFOM, E.N.R. filed a motion in the US Bankruptcy Court seeking the dismissal of its Chapter 11 bankruptcy case on July 14, 2022. As per the motion filed, the Involuntary Petitioners seek would conflict with both U.S. and Mexican public policy. The involuntary case will not further creditors' interest in obtaining convenient and effective, With no operations and limited assets in the United States, there is no prospect for a successful reorganization of the Putative Debtor in this forum especially given the risk that the Mexican Court is not likely to give effect to orders of this Court.
Credito Real SAB de CV SOFOM ENR, formerly known as Credito Real SAB de CV Sofom ER, is a Mexico-based company that provides consumer financing. The Company provides loans, either by providing direct financing to consumers or by establishing financing programs with consumer financing dealers that sell to Credito Real the collection rights from consumer financing products. Additionally, It provides financing directly to individuals that are employed by corporations with payroll deduction agreements with consumer financing dealers authorized by Credito Real. It operates through a number of subsidiaries, including AFS Acceptance LLC.
CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA 
