Akin Gump Advises Noteholders in Homex Restructuring
(Los Angeles) – Desarrolladora Homex, S.A.B. de C.V., also known as Homex, and certain of its subsidiaries have completed their recapitalization and restructuring, with Akin Gump serving as legal counsel to an ad hoc group of noteholders and “new money investors.”
Homex, a Mexican home-development company focused on affordable entry-level and middle-income housing, is the first public homebuilder to conclude a successful restructuring under Mexico’s insolvency law (Ley de Concursos Mercantiles (LCM)) since the law was substantially amended in January 2014. The restructuring itself involved roughly $2 billion in debt and took more than two years to complete.
David Simonds, a partner in Akin Gump’s financial restructuring practice, and Carlos Bermudez, a partner in the firm’s corporate practice, led the team advising the noteholders. They were joined by financial restructuring associate Katie Lee and many others spanning several of the firm’s offices and practice groups, including securities law, cross-border transactions, tax and litigation.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
# # #