Mexico’s Homex: Judgment paves way for talks, reorganization proposal

By Caroline Salls

Pittsburgh, Jan. 20 – Desarrolladora Homex, SAB de CV said the judge overseeing its concurso mercantil proceedings publicly released a judgment of recognition and ranking of claims on Friday, according to a news release.

The company said the judgment, which represents a key milestone in its restructuring process, allows it to continue negotiations it has initiated with its principal creditors and work toward presenting a reorganization agreement proposal.

Homex said the approval of the judge and a required majority of stakeholders for the reorganization agreement will represent the termination of the concur proceedings and allow the company to emerge from the proceeding.

“The company continues the process of refining its business plan, including with the input of its professional advisers, and intends to actively work with the conciliador to negotiate with its creditors,” chief financial officer Carlos Moctezuma said in the release.

“The company is currently reviewing the judgment and may make additional public statements or take other actions in respect of the judgment in the future.”

Homex is a Culiacan, Mexico-based homebuilder focused on affordable entry-level and middle-income housing in Mexico and Brazil.

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