TV Azteca faces US lawsuit over alleged $290 million fraudulent loan

Creditors of Mexico's TV Azteca, owned by Grupo Salinas, have filed a lawsuit in the U.S. federal court in Miami, seeking to extend litigation against the broadcaster. The plaintiffs allege that TV Azteca negotiated a $290 million loan with Alter Bank Limited, a bank based in Saint Lucia that has been linked to prior criminal activity and fraudulent transfers. They claim the loan was taken only weeks before the company filed for a voluntary bankruptcy restructuring in Mexico and that the broadcaster gave the loan preferential repayment over its $630 million debt to other creditors in New York.

The creditors also accuse TV Azteca of transferring assets to a hidden subsidiary to conceal its financial condition and avoid repayment. The suit requests that six directors of Alter Bank, who reside in Florida, be compelled to testify and provide documentation related to the loan. The dispute adds to ongoing legal battles over the company's $400 million bond issuance and alleged asset‑hiding strategies.