AHMSA bankruptcy sale prioritizes worker payments

The bankruptcy proceedings of Altos Hornos de México (AHMSA) and Minera del Norte are entering a critical phase as potential buyers and legal deadlines emerge. A significant offer of approximately $1.4 billion has been reported, though the bidder must still provide a $56.3 million seriousness guarantee by October 13. The minimum auction price is estimated at $1.127 billion.

Mexican Senator Gabriel Elizondo has emphasized that the payment of outstanding wages to workers must be the absolute priority once the legal process regarding the company's new offer is resolved. The company's insolvency process recognizes 13,907 former workers with labor credits totaling approximately 19.249 billion pesos.

Legislative efforts are underway in Coahuila to mitigate the economic impact on the Monclova region. Under the legal framework of the commercial contest, funds from any sale must be applied to satisfy obligations according to a legal order of payment, which grants preferential status to labor rights.