Landsteiner Scientific successfully completes bankruptcy restructuring

The company was advised on the proceedings by local law firm Pérez Correa González, with a team led by insolvency practice partners Fernando Pérez Correa and Zulima González, with the assistance of associates Mileva González and Fernanda García Zamora.

The agreement to restructure the debts of Landsteiner Scientific was reached with 91.70% of approval votes and provides for the payment of 100% of the debts to creditors, as well as to Bancomext and the commercial banks with which the company had taken out loans.

Landsteiner is a leading pharmaceutical company in the development, manufacture and commercialization of medicines, biotechnology and other health sector goods for the country.

The laboratory declared bankruptcy in March 2022.

"This agreement was a success in terms of what a insolvency proceeding should be, and this restructuring will allow Landsteiner to continue to have operations in Mexico, maintain jobs and continue to be an important supplier of strategic medicines for the country," partner Fernando Pérez said.

Pérez Correa González advised and represented Landsteiner in the insolvency proceedings, the restructuring negotiations and in its obtaining of a capital contribution with which it could comply with the restructuring agreement for $350 million.

The conclusion of the bankruptcy process and this restructuring will allow Landsteiner to continue its operations and extend its capabilities in the pharmaceutical areas in which it participates such as in insulin and atorvastatin supplies, as well as anesthesia, analgesia, cardiological, dermatological, gynecological, gastrointestinal and other drugs.

Pérez Correa González is a Mexico City-based law firm comprised of a group of highly qualified and successful lawyers from the most prestigious universities in Mexico, the United States and Europe.  who have experience working in top-tier international firms. The firm specializes in different