Overview

• On September 22, Judge Paul Gardephe directed TV Azteca to end Mexican litigation tied to a bond obligation that has grown to about $580 million with interest.
• TV Azteca filed cases in 2022 before Mexico City civil judges that authorized it to halt payments, initially citing COVID-19, and those orders remain in effect.
• The court reaffirmed that TV Azteca agreed in 2017 to resolve disputes solely in New York under the bond's forum-selection clause.
• The judge concluded the Mexican actions were intended to hinder creditor recoveries and violate U.S. public policy that strictly upholds forum-selection agreements.
• Noncompliance could trigger fines or arrest orders for top executives, with recent New York sanctions against owner Ricardo Salinas Pliego in an AT&T dispute underscoring enforcement risks.