Homex “Arguably” in Default

Homex “Arguably” in Default

Mexico Bonds

Recent downgrades of Desarrolladora Homex and lawsuits from banks over derivatives contracts appear to have put the company in default, the homebuilder says in a filing. “Certain of the aforementioned 2013 matters arguably have resulted in an event of default under the terms of the company’s senior guaranteed notes,” Homex says. In a complaint filed earlier this month, Barclays said Homex failed to make required transfers of $1.7m in collateral to cover potential losses, triggering a default, an

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