A court in Hong Kong approved Shimao's (HKG:0813) proposed creditor meeting that will vote on the defaulted developer's $11.5 billion debt restructuring, Bloomberg News reported Thursday.
Shimao will vote on the restructuring on Feb. 14 while the court will hear the case on the debt restructuring on March 13, the report said.
Creditors holding 80.72% of the debt principal have approved of the restructuring proposal, the report said.
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