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MONTREAL, Oct. 12, 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 December 14, 2012.
The order 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.
On October 24 and October 25, there will be special meetings for the holders of:
- 7.50% Mortgage Bonds due November 30, 2011 (Bond Series 4)
- 7.50% Mortgage Bonds due December 31, 2011 (Bond Series 5)
- 7.50% Mortgage Bonds due June 30, 2012 (Bond Series 6)
- 7.25% Mortgage Bonds due June 30, 2012 (Bond Series 7)
The purpose of these meetings is to provide an update of the CCAA proceedings and in the case of Bond Series 4, 5 and 7, to vote on a resolution to authorize certain steps with respect to the security held by these various Bond Series.
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.
Additional information about the CCAA process and details on the meetings can be found at the website www.homburginvest.com. There is also a toll-free information line that Dutch bondholders 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 a diversified portfolio of commercial real estate including office, retail, industrial and development properties throughout Canada, Europe and the United States.
SOURCE: HOMBURG INVEST
For further information:
NATIONAL Public Relations
Cohn & Wolfe
Tel 0031 (0)20 6768666