Mexican homebuilder Geo says Scotiabank suing it over debt

MEXICO CITY Fri May 17, 2013 3:29pm EDT

MEXICO CITY May 17 (Reuters) - Mexican homebuilder Geo said on Friday the Mexican branch of Canadian lender Bank of Nova Scotia has begun legal proceedings to seek payments it is owed.

Geo, which is struggling with weak home sales, said the payments to Scotiabank were worth less than 0.5 percent of the debt the company is trying to restructure, as reported in April.