Mexico’s Fourth District Court in Bankruptcy Proceeding Matters, which is located in Nuevo Leon and has jurisdiction throughout Mexico, published a ruling declaring that Metalwork & Stamping S.A. of C.V. is in bankruptcy proceedings (concurso mercantil).
Metalwork & Stamping S.A. was declared in bankruptcy proceedings on October 18 and was made public last week by a civil court in Nuevo León.
Today the court reported that the company has not delivered the required documentation on its financial and accounting situation. In addition, the court indicated that the company must allow those specializing in bankruptcy proceedings to carry out the activities and otherwise it will be fined.
Metalwork, with plants in Saltillo (Coahuila, Mexico) and Nicolas de los Garza (Nuevo Leon, Mexico) and 12,000 workers, calls itself the largest Tier-2 company in Northeast Mexico, as our sheet metal cutting processes, stamped, painted (spray, powder paint or E-Coat paint), among others.
With the bankruptcy proceeding, the identification of creditors will now begin.