Reuters: Bankruptcy News: Mexico's Homex says "arguably" in default on some debt

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Mexico's Homex says "arguably" in default on some debt May 22nd 2013, 14:40 MEXICO CITY | Wed May 22, 2013 10:40am EDT MEXICO CITY May 22 (Reuters) - Failure to meet payments due on derivatives "arguably" constitutes an event of default on debt owed by Mexico's second-largest homebuilder Homex , the company disclosed in a filing on Wednesday. Barclays' Mexico unit and Credit Suisse are suing Homex in New York courts over missed payments on derivative positions. "Certain (of these) matters arguably have resulted in an event of default under the terms of the Company's Senior Guaranteed Notes," Homex said in a filing with the U.S. Securities and Exchange commission. The notes totaled 11.7 million Mexican pesos ($946,600) at the end of December.

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