/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
MONTREAL, March 7, 2014 /CNW Telbec/ - Homburg Invest Inc. ("Homburg Invest" or the "Company") provided today an update to its creditors on the Company's restructuring process under the Canadian Companies' Creditors Arrangement Act ("CCAA") regarding the implementation of the Third Amended and Restated Plan of Compromise and Reorganization of Homburg Invest Inc. and Homburg Shareco Inc. (the "Plan").
The Company is pleased to announce that the Dutch financial markets authority, the Autoriteit Financiële Markten (the "AFM") has granted Geneba Properties N.V. ("Geneba") a licence under the Dutch rules implementing European Alternative Investment Fund Managers Directive.
Homburg Invest, Geneba, the Monitor and their respective advisors are continuing to work diligently to implement the Plan. It is currently expected that the implementation date of the Plan will occur in the coming weeks. The vast majority of documents required to implement the Plan are in final form. Although the Company is taking all steps to complete all conditions precedent as quickly as possible, there can be no assurance that the implementation of the Plan will not be further delayed.
More information about the CCAA restructuring process can be found on the Company's website at http://www.homburginvest.com/ as well as on the Monitor's website at http://www.deloitte.com/ca/homburg-invest.
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", "expected" 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
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