Homburg Invest obtains a fourth CCAA protection extension
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MONTREAL, June 4, 2012 /CNW Telbec/ - Homburg Invest Inc. (NYSE Euronext Amsterdam: HII) ("Homburg Invest" or the "Company") announces that it obtained an order from the Superior Court under the Canadian Companies' Creditors Arrangement Act ("CCAA") further extending the CCAA protection granted to Homburg Invest and certain of its affiliates on September 9, 2011, as amended, until August 31, 2012. In addition, certain direct or indirect subsidiaries of the Company are now also under the protection of the CCAA, namely North Calgary Land Ltd. and Homco Realty Fund (96) Limited Partnership.
The order received today will give Homburg Invest additional time to further develop a restructuring plan for the benefit of all stakeholders, including its creditors and bondholders. The CCAA process is carried out under the supervision of the Superior Court, which appointed Samson Bélair / Deloitte & Touche Inc. as independent monitor to oversee proceedings (the "Monitor"). The Monitor provides oversight of Homburg Invest's business and assists the Company in preparing its restructuring plan.
All Courts applications and orders as well as a copy of the Monitor's reports are posted by the Monitor on its website at the following address: http://www.deloitte.com/ca/homburg-invest. The Monitor's contact information is also available on its website.
Homburg Invest launched a website with additional information about the CCAA process on September 12, 2011 and is updating such website on a regular basis. The address of the website is: www.homburginvestinformation.ca or www.homburginvestinformatie.nl. There is also a toll-free information line that Dutch residents may call to receive additional information about the CCAA process. The toll-free number for this information line is: 0800 023 0323.
About Homburg Invest
Homburg Invest Inc. owns and develops a diversified portfolio of quality commercial real estate including office, retail, industrial and development properties throughout Canada, Europe and the United States.
For further information:
NATIONAL Public Relations
Cohn & Wolfe
Tel 0031 (0)20 6768666