/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, June 3, 2013 /CNW Telbec/ - Homburg Invest Inc. ("Homburg Invest" or the "Company") announced today that affected creditors of Homburg Invest and Homburg
Shareco Inc. ("Shareco") have approved the second joint amended and restated plan of
compromise and reorganization (the "HII/Shareco Plan") relating to Homburg Invest and Shareco pursuant to the Companies' Creditors Arrangement Act (Canada) ("CCAA"). The affected creditors of Homburg Realty Fund (61) Limited
Partnership ("Homco 61") have also approved the plan of compromise of Homco 61 (the "Homco 61 Plan" and, together with the HII/Shareco Plan, the "Plans").
Homburg Invest is scheduled to seek approval of the Plans through
sanction and vesting orders of the Superior Court of Québec (Commercial
Division) (the "Court") on June 5, 2013. Should the Court approve the Plans, Homburg Invest
will proceed with the implementation of the Plans following the
satisfaction of all conditions precedent to the Plans, including
receipt of all required regulatory approvals.
Each of the Plans was approved by a majority of affected creditors,
holding more than two thirds in value of the proven voting claims,
voting in person or by proxy at the meeting of creditors, as required
by the CCAA. The final voting results will be reported in the Monitor's
report to the Court in relation to the sanction of the Plans.
A copy of the Plans, as well as more information about Homburg Invest's
CCAA restructuring process can be found on the website of the Monitor
About Homburg Invest
Homburg Invest owns a diversified portfolio of commercial real estate
including office, retail, industrial and development properties
throughout Canada, Europe and the United States.
This press release contains forward-looking information within the
meaning of Canadian securities legislation. Forward-looking information
or statements can be identified by use of forward-looking words such as
"will", "scheduled to" or the negative thereof or similar variations.
The actual outcome of the events described using these statements could
differ materially from that expressed or implied by such statements.
Such statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations. Some important
factors that could cause actual results to differ materially from
expectations include, among other things, the outcome of the ongoing
restructuring process, delays in the CCAA proceedings, general economic
and market factors, changes in government regulation and the factors
described from time to time in the documents filed by Homburg Invest
with the securities regulatory authorities in Canada including, in
particular, the information circular sent by Homburg Invest to its
creditors, a copy of which is also available on SEDAR at www.sedar.com. This cautionary statement qualifies all forward-looking statements
attributable to Homburg Invest and persons acting on its behalf. Unless
otherwise stated or required by applicable law, all forward-looking
statements speak only as of the date of this press release and Homburg
Invest disclaims any obligation to update such statements.
SOURCE: Homburg Invest
For further information:
NATIONAL Public Relations
Tel.: (514) 843-2313
Cohn & Wolfe
Tel.: 0031 (0)20 6768666