Mexican homebuilder Homex emerges from bankruptcy proceedings

jueves 9 de julio de 2015 18:29 GYT
 

MEXICO CITY, July 9 (Reuters) - Mexican homebuilder Homex on Thursday said it had emerged from bankruptcy proceedings and looked forward to resuming business operations.

A court in Culiacan approved the company's bankruptcy plan, the company said in a statement. In May, Homex announced it had agreed a deal with creditors to restructure its debt.

Homex, whose shares have not traded since February 2014, has struggled with a heavy debt load and slumping home sales.

It filed for bankruptcy last year, having been hit by government policies that prioritized subsidies for apartment purchases by new home buyers in recent years. (Reporting by Max de Haldevang; Editing by Andrew Hay)