Altos Hornos de México, S.A.B. de C.V. (Chapter 15)

Altos Hornos de México, S.A.B. de C.V. (“AHMSA”) is subject to a suspension of payments proceeding (the “SP Proceeding”) before the First Civil Court of First Instance for the Judicial District of Monclova, Coahuila, United Mexican States (the “SP Court”). The SP Proceeding is being conducted pursuant to the law of Bankruptcy and Suspension of Payments (the “SP Law”), which was the law in effect when AHMSA filed for suspension of payments in May 1999.

On December 16, 2014, AHMSA filed its general payment agreement (the “Plan”) with the SP Court. The Creditors Meeting was held on April 18, 2016, at which the requisite majority of the Company’s creditors holding recognized claims voted to approve the Plan. On May 16, 2016, the SP Court issued the Lifting Order, approving the Plan and “lifting” AHMSA’s suspension of payments. The applicable appeals time period with respect to the Lifting Order in Mexico has expired without an appeal having been filed and without opposition of any of the creditors. On August 3, 2016, the SP Court issued an order authorizing Francisco Javier Gaxiola Fernández, the “síndico” in AHMSA’s SP Proceeding, to act as the proposed Foreign Representative (the “Foreign Representative”) of a chapter 15 case to be commenced on behalf of AHMSA.

On August 16, 2016, the Foreign Representative filed a voluntary petition (the “Chapter 15 Case”) on behalf of AHMSA under chapter 15 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “U.S. Bankruptcy Court”). The Chapter 15 Case is pending before the Honorable Kevin Gross under Case No. 16-11890.

This website is for informational purposes only and is not a part of, and should not be relied upon in connection with, the SP Proceeding. See the “Disclaimer” below. For any media-related inquiries, please call (212) 521-4961.

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