The President of Mexico, Claudia Sheinbaum, today attributed to the national Judiciary the responsibility for the arbitration being carried out by American companies against the Mexican State due to the debts of Tv Azteca, the second largest television network in the country, owned by magnate Ricardo Salinas.
In a morning conference, Sheinbaum mentioned a news article from the newspaper Reforma that reported the initiation of arbitration by the investment funds Cyrus Capital Partners and Contrarian Capital Management against Mexico under the Treaty between Mexico, the United States, and Canada (T-MEC) before the International Center for Settlement of Investment Disputes (ICSID). According to the newspaper, the conflict arises due to the debts that Tv Azteca has failed to pay since 2021, originating in 2017 when it issued 400 million dollars in debt securities.
The Mexican leader read a statement that said: "Mexico is responsible under international law for the misuse of its judicial system in favor of Tv Azteca." Sheinbaum made these assertions after the promulgation of a reform to the Judiciary that provides for the election by popular vote of judges, magistrates, and members of the Supreme Court starting in 2025, a measure that has generated controversy with judges opposed to this provision.
Sheinbaum, who has described the Judiciary as "corrupt," stated that she still does not have official information from the Ministry of Economy regarding the case. The Mexican government has accused the Judiciary of slowing down the resolution of a case against Ricardo Salinas, one of the richest men in the country, whose companies owe more than 30 billion pesos (around 1.5 billion dollars) to the treasury.
