Monclova: Payments to former AHMSA employees subject to sale and bankruptcy law

The Trustee warns that payment will not be made according to the collective agreement, but according to the resources obtained.

MONCLOVA, COAH.– Víctor Manuel Aguilera, Bankruptcy Trustee of Altos Hornos de México (AHMSA), reported that payments to former employees of the steel company will not be made in accordance with the Collective Bargaining Agreement, but rather in accordance with the provisions of the Bankruptcy Law, depending on the resources obtained from the sale of the company.

Aguilera explained that the total amount listed in the documents under the heading "Collective Labor Agreement" is divided into three parts established by Articles 225, 224, and 221 of the Law.

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Article 225 addresses basic salaries and benefits, which are a priority; Article 224 includes other employee benefits that will only be covered if additional resources are available; and Article 221 addresses severance pay, the payment of which seems almost impossible given the company's current conditions.

"If someone is entitled to 100,000 pesos under their collective bargaining agreement, they may only be paid 10,000 pesos under Article 225, then another 10,000 pesos if there's a margin under Article 224, and so on, depending on the resources recovered from the sale," the trustee explained.

The sale of AHMSA, which is expected to be completed by the end of this year, will be key to determining the amount that can be used to cover labor debts.

Aguilera emphasized that he is working to ensure the company is sold as a whole, rather than in parts, as this would allow for a better price and, therefore, greater resources to settle the debts.

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He asked for the understanding of the former employees and their union representatives in not obstructing the judicial or commercial process, warning that any obstacles would diminish the value of the assets and reduce the amount that could be distributed.

"The priority must be to allow us to work to maximize the value of the assets so we can respond to you," he concluded.