Fantasia wins creditor approval for offshore debt restructuring

Fantasia Holdings (1777), a real estate developer in the Chinese mainland, announced on Sunday that its creditors have approved the company's proposed offshore debt restructuring plan, according to Hong Kong Stock Exchange.

At the Scheme Meeting, a total of 1,412 Scheme Creditors holding voting claims worth US$6.1 billion (HK$47.58 billion) participated. Of these, 1,397 creditors, representing US$6.08 billion or about 99.67 percent of the voting claims, voted in favour of the schemes. Each scheme was approved by the statutory majority required.

The company will petition both the Hong Kong Court and the Cayman Court to seek the sanction and approval of the Hong Kong Scheme and the Cayman Scheme.

Cynthia ZHONG