AHMSA Trustee Assures Labor Claims Will Be Recognized

As part of the ongoing bankruptcy proceedings of Altos Hornos de México (AHMSA) and its subsidiary Minera del Norte (MINOSA), court-appointed trustee Víctor Aguilera has assured current and former employees that all labor-related debts will be acknowledged throughout the legal process.

Aguilera emphasized that, in accordance with Mexico’s Commercial Bankruptcy Law, he is obligated to recognize both preferred and non-preferred labor claims from anyone who held an employment relationship with AHMSA or MINOSA. “The recognition of claims will occur at the appropriate stage of the process, regardless of whether labor lawsuits have been filed or whether final rulings exist in those cases,” he noted.

Recently, local news outlets reported that AHMSA workers blocked Gate 3 of the steel plant, protesting what they saw as a lack of transparency from the trustee and uncertainty surrounding their labor rights. According to El Siglo de Torreón, employees expressed concern that a sealed list was sent to the judge without prior notice, raising doubts about their status in the bankruptcy case.

Aguilera clarified that a confidential list of essential employees active as of Feb. 28, 2025, was submitted to the bankruptcy judge at the request of a creditor. The list was provided under strict confidentiality to protect the identity and safety of those named, in compliance with Mexico’s Federal Law on the Protection of Personal Data, according to AHMSA. The document will be made available to relevant parties at the stage the judge deems appropriate, ensuring legal transparency and certainty in the proceedings.

Aguilera also announced that the valuation of both companies as a single productive unit is nearing completion. Additionally, the groundwork is being finalized for a modified auction process aimed at maximizing asset value. "This is intended to ensure better recovery for creditors, especially employees, who hold legal payment priority under Art. 224 of the Commercial Bankruptcy Law," Aguilera stated.

What Happened to AHMSA?

In 2019, Alonso Ancira, then-President, AHMSA, was arrested in Spain following an investigation into bribery involving PEMEX officials, who were allegedly overcharged for the sale of a fertilizer plant in northern Mexico. Some of the illicit proceeds were allegedly funneled into Odebrecht accounts. Following Ancira's arrest, CFE canceled several contracts with AHMSA. Subsequently, President López Obrador's administration reached an agreement with Ancira for him to return US$200 million, which was the estimated overcharge from the fertilizer plant sale to PEMEX.

On Nov. 30, 2023, AHMSA halted steel production. In early 2024, Grupo Acerero del Norte entered into an agreement to sell a majority stake in AHMSA to a group of foreign investors for US$200 million. This transaction was part of a broader financial restructuring plan aimed at addressing the company’s bankruptcy and facilitating its recovery.

In January 2025, President Claudia Sheinbaum hinted in a press conference that her administration could soon offer "positive news" to the nearly 20,000 workers still owed wages by the steelmaker. However, no official updates have been provided to date.