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MONTREAL, Oct. 24, 2012 /CNW Telbec/ - Homburg Invest Inc. (NYSE Euronext Amsterdam: HII) ("Homburg Invest") is in advanced stages of developing a plan of arrangement (the "Plan") under the Companies' Creditors Arrangement Act (Canada) (the "CCAA"). Homburg Invest expects that the Plan will be finalised by the end of the year and that the creditors will vote on the Plan early in the new year. In the context of the Plan, Homburg Invest will meet with its mortgage bondholders to discuss certain arrangements with respect to their security rights.
The Plan is being developed by Homburg Invest with the assistance of the Monitor and their respective advisors. The final contents of the Plan will depend on many factors, including the results of negotiations with the various stakeholders, legal and tax analyses and regulatory considerations. Homburg Invest believes that it is unlikely that the shares of Homburg Invest will represent any value in the context of the Plan or otherwise.
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.
SOURCE: Homburg Invest
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