Grupo TMM, Latin America's largest multimodal transportation company, lost court protection against its creditors after a Mexican Civil Court judge overuled a previous injunction granting the transportation company a one-year grace period to meet its debt obligations.Grupo TMM, Latin America's largest multimodal Two or more modes of operation. The term is used to refer to a myriad of functions and conditions in which two or more different methods, processes or forms of delivery are used. On the Web, it refers to asking for something one way and receiving the answer another; for example requesting information via speech and receiving the answer on screen. transportation company, lost court protection against its creditors after a Mexican Civil Court judge overuled a previous injunction granting the transportation company a one-year grace period Grace period The time period stipulated in most loan contracts and insurance policies during which a late payment will not result in default or cancellation. to meet its debt obligations. The judge revoked the prior ruling, citing irregularities in the case. Grupo TMM will not dispute the new ruling and will negotiate approximately US$500 million in debt with its creditors.
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