Texas Bankruptcy Court Sees Filing with Over $100 Million in Liabilities
Aztec Fund Holding Inc., a Mexico City-based company that invests in U.S. commercial real estate, has filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. The filing, which occurred late Monday, lists liabilities of at least $100 million.
Background on Aztec Fund Holding Inc.
According to its website, Aztec Fund Holding Inc. has conducted over $600 million worth of real estate transactions in the U.S. over the past six years. The company has listed assets valued between $10 million and $50 million on its petition.
Industry Downturn Contributes to Bankruptcy Filing
The commercial real estate industry has experienced a significant downturn in the wake of the COVID-19 pandemic. While Aztec Fund Holding Inc. has yet to file a first-day declaration, the industry’s struggles are likely a contributing factor to the company’s bankruptcy filing.
Case Details and Representation
The case has been assigned to U.S. Bankruptcy Judge Chris Lopez. Aztec Fund Holding Inc. is represented by John David Cornwell of Munsch Hardt Kopf & Harr PC. The case number is 24-90436 in the U.S. Bankruptcy Court for the Southern District of Texas.
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