Mexican forestry company Proteak Uno and its subsidiary Pro MDF have been declared in bankruptcy by a district court in Mexico City, marking the final phase of insolvency proceedings initiated in 2024. The ruling follows the failure to reach a restructuring agreement with creditors during the conciliation phase of Mexico’s insolvency process. Under local law, bankruptcy proceedings begin when no settlement can be agreed, shifting control of the company’s assets and operations. A trustee is expected to be appointed within five working days to oversee the process. The trustee will be responsible for evaluating options to ...
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