The financial institution, focused on granting loans via payroll, for cars and small businesses, said this week that the options of its restructuring process include Chapter 11 of the United States.
Credito Real informed the stock market on Thursday night that it had decided to terminate its contractual relationship with DLA Piper LLP, from the United States, who acted as legal adviser, and with FTI Consulting, who was its restructuring adviser for “thus agreeing to the interests of the company within the current context”.
“This decision does not change the Company’s objective to continue evaluating alternatives to achieve an orderly restructuring process. We will continue to communicate any available updates in a timely and transparent manner,” it said in a statement to the stock exchange.
The ratings of Crédito Real, which was unable to pay holders of a maturing Swiss franc bond this year, have been under pressure since April 2021, when it revealed revisions to its 2020 audited statement that showed a sharp rise in its rating. delinquent loan portfolio.
The company’s shares on the Mexican stock exchange were suspended in early June, amid the restructuring.
