Collecting Debt from Altos Hornos de Mexico

Altos Hornos de Mexico (AHMSA) leaves USD 650 million in debt owed to its suppliers. 

Argentem Creek Partners, a U.S. fund, has acquired the company, and its board of directors is officially in place. The acquisition did not include liabilities, hence, AHMSA’s suppliers with outstanding balances may potentially lose their money.
 
The government of Mexico has appointed a civil courthouse to assist AHMSA’s creditors in pursuing payment. 
 
Creditors must seek local legal counsel with Mexican lawyers to pursue their interest in collecting any debt before the authorized Mexican judiciaries. The deadline to submit claims is June 3, 2023.  
 
Failure to follow this guidance would result in legitimate U.S. creditors of AHMSA potentially losing their outstanding balances if they do not proceed as recommended.
 
Disclaimer: This knowledge is shared as GOM authorities delivered it. The U.S. Commercial Service does not provide legal counsel in this or any cases involving the collection of outstanding balances.