Alpha Credit, a Mexican Fintech Company, Files for Bankruptcy Protection

Alpha Credit, a Mexican fintech, has requested a mercantile contest to restructure its debt or sell its assets to fulfill its obligations.
Alpha Credit's subsidiaries in the United States and Colombia are discussing with bondholders and creditors for respective restructurings.

Alpha Credit reported inconsistencies in its financial reports. Photo: MarioGuti

08/13/2021

Alpha Credit, a Mexican fintech, has requested to initiate a mercantile contest to restructure its debt or sell its assets in order to fulfill its obligations. The request was submitted on August 10th in accordance with the Mercantile Contest Law and communicated to the Mexican Stock Exchange by Banco Invex, as the administrator of the trust issuing Alpha Credit's (ALPHACB 18) stock certificates.

During the process in Mexico, debtors will be able to continue receiving payments in their credit portfolio, while Alpha Credit's subsidiaries in the United States and Colombia will proceed with discussions with bondholders and other creditors to carry out their respective restructurings.

It is important to note that, on August 1st, Alpha Credit's subsidiaries in Colombia voluntarily filed for Chapter 11 bankruptcy protection in the United States.

Read the full article (in Spanish).

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