Ricardo Salinas Pliego, chairman of Mexican broadcaster TV Azteca, is awaiting the judgment of the US Securities and Exchange Commission in a case that could have both wide ramifications for his company, and for corporate governance in Mexico.

At issue is a 2003 debt transaction in which Mr Salinas Pliego and a colleague made a profit of $218m, allegedly at the expense of shareholders. Mr Salinas Pliego, the majority shareholder in Azteca, denies wrongdoing and is due to present his version of events in the next few weeks.