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6h ago

Sheinbaum Presses Salinas Pliego to Pay as TV Azteca Dispute Moves Through T-MEC Arbitration

Sheinbaum says her government will not cover TV Azteca’s private debt to U.S. bondholders.

Inversionistas de Estados Unidos irían contra Ricardo Salinas Pliego por adeudos de TV Azteca con todas estas medidas. | Especial
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Arturo Saldívar
La presidenta Sheinbaum lanzó un fuerte mensaje al empresario Ricardo Salinas Pliego Toma chocolate, paga lo que debes.

Overview

  • Cyrus Capital Partners and Contrarian Capital Partners maintain a CIADI case under T-MEC seeking about $500 million over unpaid 2017 TV Azteca bonds, filing a fresh reply this week to contest Mexico’s jurisdictional objections.
  • Investors allege a Mexico City judge granted pandemic-era measures that suspended payments and allowed TV Azteca to stop public financial reporting, which they say blocked creditor remedies.
  • A January 2024 appellate ruling kept parts of the suspension in place until notification of dozens of defendants, extending the constraints on enforcement efforts.
  • Sheinbaum said the Secretaría de Economía will handle any T‑MEC-related engagement requested by the funds and emphasized the federal government will not assume private obligations or defend nonpayment.
  • The dispute could expose Mexico to compensation if it loses at CIADI and leave Ricardo Salinas Pliego’s companies facing enforcement actions abroad, according to legal and financial reporting.