Metrofinanciera, a Mexico-based mortgage provider, filed for US Chapter 15 protection in August after becoming the first company to pass through new Mexican bankruptcy rules. The rules, a 2007 amendment to a 2000 law, were designed to enhance the country’s international reputation with respect to bankruptcy legislation by increasing speed and collaboration in insolvency proceedings.
The application of the new rules should be a positive development for international investors, according to Salvador Fonseca, an international partner in Chadbourne and Parke’s Mexico City office.
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