Tv Azteca creditors accuse Alter Bank of $290 million loan
tv azteca creditors in New York accused the company of negotiating a loan of up to $290 million with Alter Bank Limited weeks before it sought concurso mercantil in Mexico. They filed the claim on June 2 in federal court in Miami, turning a financing dispute into a challenge over which debts may have been favored first.
June 2 Miami filing
June 2 is the date that put the accusation into court. The creditors said the alleged loan was pactado in January, carried vencimiento in July, and was arranged about five weeks before TV Azteca promoted its concurso mercantil. That sequence is the core of their case: a large financing surfaced just before the company moved into Mexico’s bankruptcy process.
290 million dollars is the size of the disputed loan the creditors say TV Azteca negotiated with Alter Bank Limited. They argue the money could have received preference over other debts, including 630 million dollars in debt issued in New York that TV Azteca had stopped paying since 2021. For holders of that debt, the accusation is not just about timing; it is about whether one obligation was positioned ahead of the rest.
Alter Bank Limited in Santa Lucia
Alter Bank Limited is described by the creditors as an international bank in Santa Lucia. They also said their investigation suggested the bank lacked the funds to make a loan of that size by itself, and that TV Azteca repeatedly tried to hide information about the loan. Those claims raise the stakes beyond ordinary refinancing: the dispute now reaches the source of the money itself and how it was disclosed.
23,345 million pesos is the separate debt load TV Azteca is also associated with, adding another layer of pressure around the company’s obligations. The accusation has not been judicially determined as fraudulent, but the Miami filing gives the New York creditors a court venue to press their theory that the financing may have been used to prefer one creditor over others. For debt holders, the practical issue is whether this case changes the ranking of claims they thought they already understood.
New York debt after 2021
2021 is the year TV Azteca stopped paying the $630 million in New York-issued debt at the center of the dispute. That long nonpayment is what makes the alleged January loan more than a side issue: if the financing was meant to shield one obligation while others remained unpaid, the fight now sits at the intersection of cross-border debt, disclosure, and recovery priorities.
July is the month the alleged loan was due to mature, and that deadline now sits inside a broader dispute over what was arranged, when it was arranged, and who knew about it. The Miami lawsuit has already moved the issue out of rumor and into litigation, where creditors are trying to force a fuller accounting of a financing they say changed the order of claims.
