Mexican Judge Approves Auction of AHMSA and Minosa Assets to Preserve Operations

A Mexican judge has officially authorized the auction of assets belonging to the industrial giants Altos Hornos de México (AHMSA) and Minera del Norte (MINOSA) in Coahuila. The decision, made by the Second District Judge in Mercantile Competitions, Ruth Haggi Huerta García, aims to navigate the complex bankruptcy proceedings linked to case files 19/2023 and 77/2022.

The court's primary objective is the conservation of these enterprises. To achieve this, the judge has mandated that the sale proceed as a single productive unit. This approach is intended to prevent the fragmentation of assets and facilitate the continuity of operations, thereby safeguarding the companies' potential for future viability.

The judicial resolution endorses a revised sale proposal submitted by receiver Víctor Manuel Aguilera Gómez. However, before the auction process can move forward, the judge has imposed a strict three-day deadline for the receiver to complete several key obligations. These include presenting the definitive bases for the auction, submitting a final list of workers along with detailed calculations of preferential labor credits, and delivering the proportional share for creditors of the involved companies.

Judge Huerta García acknowledged the "distinct realities" faced by the parties involved in this bankruptcy process. This authorized auction represents a legal pathway designed to address accumulated debts while simultaneously preserving the productive structure of these crucial steel and mining operations, which are vital to the regional economy.