TV Azteca creditors in New York accused the broadcaster on June 2 of negotiating a loan of up to $290 million with Alter Bank Limited weeks before it sought concurso mercantil in Mexico. The complaint, filed in federal court in Miami, puts a fresh spotlight on how the company handled its debt in the run-up to insolvency.
The claim matters now because the creditors say the alleged financing was arranged in January and was due in July, even as TV Azteca was already in distress. The company has not been paying $630 million to holders of debt issued in New York since 2021, and the broader fight is unfolding around a balance sheet that the source puts at 23,345 million pesos.
In the filing, the creditors described Alter Bank as an international bank from Santa Lucia and said the deal was negotiated five weeks before TV Azteca promoted its bankruptcy-style proceeding in Mexico. They argued that a lender of that size would not have been able to fund the loan on its own and that the available evidence points to a transfer that may have been fraudulent.
They also accused TV Azteca of repeatedly trying to hide information about the transaction. That allegation, however, has not been confirmed by a court, and it remains part of the wider dispute over how the company managed its obligations to New York creditors.
The case is tied directly to TV Azteca’s concurso mercantil and to a larger battle over debt issued in New York, where creditors have been pressing for answers since the company stopped paying in 2021. For now, the key unanswered question is whether Alter Bank actually supplied the money and, if it did, where the funds came from.
The complaint will now move through the court process, where the loan claim and the accusations around it will be tested against the company’s insolvency record. If the filing holds up, it could shape how the court views the transfer and the treatment of TV Azteca’s debt.
