President Claudia Sheinbaum informed today that the Mexican government has not received official information from the Ministry of Economy regarding the international arbitration request filed against Mexico in the United States due to the defaults of TV Azteca. The plaintiffs claim denial of justice and involve the country citing obligations of the Trade Agreement between Mexico, the United States, and Canada, requesting a payment of 219 million dollars.
In 2017, TV Azteca issued notes for a debt of 400 million dollars, committing to make annual payments to investors with an interest of 8.25%. However, Ricardo Salinas Pliego's company stopped fulfilling these payments in 2021. Despite the companies initiating legal actions in the United States, TV Azteca managed to halt them through a bankruptcy request.
Additionally, TV Azteca is accused of carrying out a "secret" process before a Mexican court, arguing that the Covid-19 pandemic prevented it from fulfilling its financial obligations. The Mexican government has responded to the arbitration request, arguing that the companies do not meet the requirements to be considered protected investors under the Free Trade Agreement, as they represent capital funds in the Virgin Islands. Sheinbaum assured that she will share more details as more information about the case becomes available.
