On October 26, 2021, Grupo Posadas S.A.B. de C.V., a Mexico City-based hospitality company, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 21-11831). Grupo Posadas owns, leases, operates, and manages resorts, hotels, and villas in urban and coastal areas of Mexico under several owned brands. The company estimates $500 million to $1 billion in both assets and liabilities. As set forth in greater detail in the First Day Declaration, the Debtors have filed a prepackaged chapter 11 plan which proposes a refinancing of certain senior notes coming due in 2022, but otherwise provides for unimpaired treatment of all claims, including all general unsecured claims and existing equity.
Cole Schotz does not represent the Debtors in these cases. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.
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