Vitro has started the process to recover US$1.59 billion damages caused by lawsuits filed to put Vitro into involuntary bankruptcy, which were dismissed on appeal.

The amount claimed corresponds to 20% of the total amount claimed at the time by the so-called vulture funds from each of the companies in those proceedings.

The new bonds issued and payments made by Vitro to bondholders who opposed the restructuring were placed in a trust which stipulates that Vitro may collect from this trust the amounts that these creditors are liable for due to these actions.

The Court of Appeals of the United States Fifth Circuit has lifted the Temporary Restraining Orders that prevented the collection actions against Vitro and its subsidiaries by the dissident funds.