/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, Sept. 12, 2011 /CNW Telbec/ - (TSX: HII.A & HII.B and NYSE
Euronext Amsterdam: HII) -On Friday, September 9, 2011, the application
by Homburg Invest Inc. ("HII" or the "Company") and certain of its
affiliates for protection under the Canadian Companies' Creditors Arrangements Act ("CCAA") was granted by the Court. The Company today provided additional
information on the CCAA process and on measures to facilitate
communications with all relevant stakeholders, including bond and
mortgage holders, other creditors, shareholders and tenants.
What is CCAA?
Under the CCAA, HII will have the ability to work with its stakeholders
to enhance the balance sheet of the Company.
HII is not bankrupt. The Companies' Creditors Arrangement Act (CCAA) is a Canadian law which provides a framework which allows insolvent
corporations to restructure their business and financial affairs while
maintaining its operations.
The CCAA process is carried out under the supervision of the Canadian
Court (Quebec Superior Court) which appoints a Monitor to oversee
proceedings. Samson Bélair / Deloitte & Touche Inc. ("Deloitte &
Touche") is the Court-appointed Monitor that will oversee HII
proceedings under the CCAA. Deloitte & Touche will post all Court
applications and orders as well as a copy of its reports to the Court
on its website at the following address:
Communication Channels for Debt Holders, Creditors, Shareholders and Other Stakeholders,
In addition to information available to creditors and other stakeholders
on the Deloitte & Touche web site, HII is taking several measures to
ensure that stakeholders will be kept fully apprised of all
developments in connection with the CCAA process.
HII has engaged public relations firms in the Netherlands and in Canada.
In Canada, NATIONAL Public Relations in Montreal has been engaged to
advise the Company and coordinate its Canadian and global
communications strategy and activities.
In the Netherlands, Cohn & Wolfe in Amsterdam has been engaged to
coordinate communications with bondholders, creditors and other
stakeholders in the Netherlands.
HII has created a new web site address to provide information to
stakeholders. Toll-free telephone numbers for Netherlands stakeholders
will also be made available in the next few days to enable stakeholders
to contact and speak directly to representatives of the Company, who
will provide additional information, if available.
HII will issue a press release indicating the website addresses and toll
free telephone numbers, as soon as they are up and running, but no
later than this coming Thursday September 15, 2011.
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 Europe and the United States, as well
as an interest in Homburg Canada Real Estate Investment Trust.
SOURCE HOMBURG INVEST INC.
For further information:
| Canada |
NATIONAL Public Relations
| Netherlands |
Cohn & Wolfe
Tel 0031 (0)20 6768666
Mob 0031 (0)6 21576153