Alpha Holding, AlphaCredit begin restructuring proceedings in Mexico

By Sarah Lizee

Olympia, Wash., Aug. 11 – Alpha Latam Management, LLC’s Mexican affiliates, Alpha Holding, SA de CV and AlphaCredit Capital, SA de CV Sofom, ENR, began a jointly administered voluntarily filed proceeding in Mexico City, according to a Wednesday press release.

As previously reported, Alpha Latam Management filed Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware to facilitate the sale of its Colombian assets. Alpha Holding and AlphaCredit were not included in the Chapter 11 filing.

Through the restructuring proceeding, the Mexican debtors plan to pursue a controlled restructuring and possible sale of their assets in order to maximize value for the benefit of creditors and other stakeholders.

During the proceeding, the debtors will continue to collect payments on their loan portfolio, subject to Mexican bankruptcy law.

The Mexican debtors expect to have access to financing and liquidity through a secured intercompany loan.

Alpha Holding said it and its Mexican, Colombian and U.S. affiliates are continuing discussions with bondholders and other creditors.

Wilmington, Del.-based Alpha Latam Management is a technology-enabled financial services company that provides consumer lending products in Colombia. The company filed bankruptcy on Aug. 1 under Chapter 11 case number 21-11109.

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