In a detailed memorandum opinion issued August 4, Judge Laurie Selber Silverstein reaffirmed that the Chapter 11 case remains under existing management. The court explicitly rejected arguments that a March 31 amparo order from a Mexican court had reinstated Albor as president or invalidated the company’s current governance structure. The ruling serves as a definitive rebuke to reports circulating in the Mexican press that suggested a leadership change.
Beyond formalizing the management structure, the court maintained sanctions against Albor for willful violations of the automatic stay. These penalties, which include a $10,000-per-day fine, remain active as the restructuring process continues in Delaware. Judge Silverstein noted that dismissing the case would jeopardize the interests of creditors and threaten the ongoing care of animals housed across the company's facilities. The restructuring and sale procedures will proceed as planned under the supervision of the U.S. court.





Comments (0)
No comments yet. Be the first!