One of Martínez's most noteworthy negotiations involved restructuring the credit card debt of your Mexican chemicals and textile conglomerate Celulosa y Derivados, Sociedad Anónima (CYDSA), a firm that had denied him a work when he was younger.
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The Situations traced the story to 2009, when Martínez loaned Vitro $seventy five million in Trade to the title to many of its Houses and an option to return them to Vitro later in Trade for the 24 per cent stake from the agency. In 2010, Martínez "went to the several banking companies that Vitro owed funds to and purchased the statements," So getting the business's "most important person exterior creditor, proudly owning about $600 million well worth of promises.
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In reaction, American investor Paul Singer's agency, Elliott Associates, as well as other hedge cash, which with each other owned about $700 million of Vitro's outdated financial debt, claimed that Martínez experienced served Vitro "muscle traders from a huge selection of many pounds by means of financial sleight of hand," and accused Vitro of "audacity, brazen manipulation and greed.
[2] "You can find barely any news about his moves, or photographs of him on the Internet," noted IB Periods. "There isn't any estimate of his wealth, While many have explained that he is next in the footsteps of fellow Mexican tycoon Carlos Slim to be the richest male on the planet."[seven]