Desarrolladora Homex, SAB de CV fka DHOXY

[JFBroderick]

What's the strategy here? Roll the dice and see if they get the protection and can move forward with their projects?

Homex last week filed for bankruptcy protection with a court in its home city of Culiacan, having reached a restructuring agreement with creditors representing more than half of its roughly $2.5 billion of debt. The agreement would allow bondholders and other unsecured creditors to convert their claims into equity, while bank creditors would reopen construction loans to allow Homex to resume work at as many as 61 housing projects.