February 13, 2018 / 11:05 PM / 11 days ago

Bankrupt M&G's affiliates say discovery matters should stay in Mexico

Mexican affiliates of M&G USA Corp on Monday charged that Mexico’s export bank is trying to improperly circumvent an agreement staying legal actions in order to investigate the bankrupt plastic maker’s books.

M&G Holding and M&G Polimeros in court papers said a “standstill” agreement they have with Banco Nacional de Comercio Exterior falls under Mexican jurisdiction, which should bar a Rule 2004 examination. The bank, better known as Bancomext, wants to investigate matters affecting the finances of the bankrupt U.S. parent company of the two affiliates.

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