January 26, 2018 / 10:23 PM / a year ago

Mexico's export bank seeks probe of bankrupt plastics maker M&G

Mexico’s government-run export bank suspects that proceeds from its loans to two Mexican makers of plastic components may have improperly been forwarded to their bankrupt parent company, M&G USA Corp.

Banco Nacional de Comercio Exterior, better known as Bancomext, said in court papers on Thursday it believes it likely has “significant” claims against M&G stemming from the loans. It is seeking a court order for a Rule 2004 examination to review matters affecting the plastic maker’s finances.

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