SHANGHAI, Oct 23 Reuters - Creditors of China's HNA Group have voted to approve the company's restructuring plan, according to a court comment posted on HNA's official WeChat page on Saturday.
The court in Hainan, the southern island of China, where the group is based, said the vote had been conducted in accordance with the country's bankruptcy laws.
HNA was placed in bankruptcy administration in February and a working group was created by the Hainan government to address the company's liquidity problems.
As concerns grew over its mounting debts, it sold assets such as airport services company Ingram Micro and electronics distributors Swissport to focus on its airline and tourism businesses.
HNA Group told a meeting of creditors in June that some 67,400 parties were seeking a total of 1.2 trillion yuan, a person who attended the online meeting told Reuters at the time.