POWERLONG's Restructuring Plan Receives Overwhelming Creditor Support
Stock News
May 12
POWERLONG (01238) announced that a total of 454 plan creditors, holding plan debt principal and accrued unpaid interest amounting to US$3,255,599,086, participated in the scheme meeting. This figure represents approximately 96.0% of the total plan debt subject to the vote. Among these creditors, a total of 445, holding plan debt principal and accrued unpaid interest totaling US$2,912,628,825, voted in favor of the plan. This constitutes a majority of the plan creditors who attended the meeting in person or by proxy and voted, and represents approximately 89.5% of the total plan debt voted on at the meeting. Consequently, the plan has received the required majority approval from plan creditors.
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