International affected parties analyze legal actions against Crédito Real

“We are talking with the bondholders to see if there is a (legal) way in which we can help, we are looking for common ground,” said von Harrsch, legal representative of those affected.

Messages seen by Reuters showed that several of those affected hoped to join the Mexican lawsuit. Russia-based Alfa Capital, which collectively owns $150m in Real Credit bonds, is among the plaintiffs, a fund representative told Reuters.

“It’s because of our image, we have to go to court and try,” said the same source who preferred not to be mentioned.

Alessandro Revelant, a private investor from Italy, said he was also seeking legal action, as was Stan Bozhenkom, a Russian national. “In investing, you can lose money, that’s fine,” Revelant told Reuters. “When something like this happens it’s hard to accept,” he added.

Large groups such as British asset manager abrdn ABDN.L and Los Angeles-based DoubleLine Capital also hold bonds in the company, according to Refinitiv data.

The firms, Credito Real and external auditor Deloitte did not respond to Reuters requests for comment.

The company has publicly acknowledged that there were flaws in its accounting practices, telling the Wall Street Journal in July that there were “deficiencies (in) corporate governance.” The CEO and his team left their posts in April.

cookie : true, xfbml : true, version : 'v8.0' });

FB.AppEvents.logPageView();

};

(function(d, s, id){ var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) {return;} js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));



Source link

Previous Story

Costa Rican foreign minister denounces human rights violations at the UN. H H. In Nicaragua

Latest from Mexico