Revetas’ rescue of Belgium’s GH Group stalls as lenders push for bankruptcy

Boulevard de Waterloo in Brussels, where GH Group owns retail properties

A potential recapitalization by US manager Revetas Capital of GH Group, the real estate company owned by Gérald Hibert, is on hold amid a standoff between the Belgian entrepreneur and a group of the company’s bank lenders.

Hibert is currently asking Belgium’s court of appeal to provide GH Group’s holding company, Sogefibel, and 21 of its subsidiaries with more time to address outstanding debts relating to its retail properties.