Mexico homebuilder Geo enters bankruptcy protection

lunes 21 de abril de 2014 18:23 GYT
 

MEXICO CITY, April 21 (Reuters) - Mexican homebuilder Geo said on Monday that it entered bankruptcy protection after a judge accepted its filing for restructuring.

The company, which said last month that it gained the support of the majority of its creditors in a so-called pre-packaged bankruptcy plan, will seek to replace most of its about $1 billion in debt with stock.

Geo said it presented its bankruptcy proposal jointly with the banks Banamex, Banorte, Santander, Inbursa and BBVA Bancomer. (Reporting by Elinor Comlay. Editing by Andre Grenon)