Vitro reached stay in litigation with derivatives financial counterparties

Vitro S.A.B. de C.V., Mexico, announced today that has reached stay agreements with Credit Suisse, Calyon, Merrill Lynch, Barclays and Citibank, counterparties of derivative financial instruments, according to a March 17 company release.

In accordance with these stipulations, the parties have agreed to a continuance of the deadline for the filling of Vitro’s initial responsive pledging in the Supreme Court of the State of New York and a stay of the litigation processes until April 24, 2009, allowing parties time to negotiate solutions and reach a satisfactory mutual and final agreements.

Read full release.