/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, Nov. 24, 2011 /CNW Telbec/ - Homburg Invest Inc. (NYSE
Euronext Amsterdam: HII) ("Homburg Invest" or the "Company") announced today that the Netherlands Authority for Financial Markets
("AFM") has revoked Homburg Invest's licence to operate as a financial
institution in the Netherlands.
Without its licence, Homburg Invest will not be authorized to issue new
equity in the Netherlands. Formal written submissions were made to the
AFM prior to the announcement of its decision, requesting that it
reconsider its intention to revoke Homburg Invest's licence. The
Company emphasized that maintaining its licence would allow it to
consider the widest number of potential alternatives for creditors,
including bondholders, as part of its restructuring process. The
independent monitor appointed by a Canadian court to oversee the
restructuring of Homburg Invest under the Canadian Companies' Creditors Arrangement Act ("CCAA") supported Homburg Invest's initiatives in this regard.
"Homburg Invest strongly believes that the AFM's decision is premature
in the current restructuring context. Regrettably, this decision may
limit Homburg Invest's options under the CCAA process. The AFM's
decision effectively deprives bondholders of the option to consider all
restructuring alternatives that would otherwise be available. The
Company is currently evaluating all legal options and intends to take
all necessary steps to vigorously contest the AFM's decision," said Jan
Schöningh, President and Chief Executive Officer.
About Homburg Invest
Homburg Invest owns and develops a diversified portfolio of quality
commercial real estate including office, retail, industrial and
development properties throughout Europe and the United States, as well
as an interest in CANMARC Real Estate Investment Trust.
SOURCE HOMBURG INVEST INC.
For further information: