Logan Group's Creditors Show Strong Support for Restructuring Plan

MT Newswires Live

01/31

Logan Group (HKG:3380) has received strong support from offshore creditors for its restructuring plans, a Monday bourse filing said.

Creditors holding over 66% of the firm's $6.21 billion offshore debt agreed to the restructuring proposal within two weeks of entering into a creditor support agreement.

Creditors owning an additional 12% of the offshore debt have also expressed interest subject to internal approval.

The property developer will apply to the Hong Kong High Court for approval to convene a meeting of scheme creditors to expedite the restructuring.

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