The bankruptcy process of Altos Hornos de México and its subsidiary Minera del Norte is progressing as required by law. The trusteeship timely submitted the guidelines for the asset auction, allowing key stages of the procedure to continue. There is no uncertainty despite a brief leave by the presiding judge.
Trustee Víctor Manuel Aguilera Gómez confirmed that the commercial insolvency process of Altos Hornos de México (AHMSA) and Minera del Norte (MINOSA) is proceeding normally. The guidelines for the asset auction were submitted within the 48-hour deadline ordered by the Second District Court Specialized in Commercial Insolvencies, presided over by Judge Ruth Haggi Huerta García.
"The inherent procedures are developing normally and the guidelines for the auction of the assets were presented on time by the trusteeship and within the established legal deadline", the trusteeship specified.
Once the judicial authority reviews and approves these guidelines, the call for the auction will be issued. This step is crucial to settle the 61 billion peso debt, which includes financial obligations, debts to government entities, as well as pending payments to workers and suppliers.
The trusteeship ruled out any impact from the court's administrative situation. Judge Ruth Haggi Huerta, who has handled the case since 2023 in Monclova, Coahuila, requested a brief leave but is back in duties. "It is clarified that the head of the court in charge of the bankruptcy process, licensed Ruth Haggi Huerta, is in functions after having requested a brief leave", the body detailed.
Víctor Manuel Aguilera Gómez reaffirmed the trusteeship's commitment: "The trusteeship reaffirms its commitment to conduct the process with transparency, strict adherence to the legal framework and will keep interested parties informed as resolutions and relevant advances are reached within the procedure".
This progress ensures the process continues without interruptions, focusing on the sale of assets to cover the steel companies' financial commitments.
