Golden Ten News, November 14th, the debt restructuring of COSCO SHIPPING is in progress. The overseas creditor group is calling on all creditors to vote against the plan and prevent it from taking effect, thereby forcing COSCO SHIPPING to return to the negotiating table. On November 14th, Nian Lida, the legal adviser of the overseas creditor group of COSCO SHIPPING, held a creditor meeting. Nian Lida said that the group still firmly opposes COSCO SHIPPING's overseas debt restructuring plan, and believes that the plan is too favorable to shareholders and creditors with mortgages. Nian Lida called on creditors to vote against it. To dispel the concerns of creditors, Nian Lida explained that even if they vote against the restructuring plan, creditors can still choose the existing restructuring consideration; the rejection of the restructuring plan does not mean that COSCO SHIPPING will be bankrupt. At present, the voting on the plan is still ongoing. The creditor meeting arranged by the protocol in Hong Kong will be held on November 22nd, but the voting will end on November 19th, and creditors need to submit the account holder letter before 8 pm on November 19th.
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Yuan Yang Group overseas creditors' committee: opposition to the restructuring plan, proposing improvement plan
Golden Ten News, November 14th, the debt restructuring of COSCO SHIPPING is in progress. The overseas creditor group is calling on all creditors to vote against the plan and prevent it from taking effect, thereby forcing COSCO SHIPPING to return to the negotiating table. On November 14th, Nian Lida, the legal adviser of the overseas creditor group of COSCO SHIPPING, held a creditor meeting. Nian Lida said that the group still firmly opposes COSCO SHIPPING's overseas debt restructuring plan, and believes that the plan is too favorable to shareholders and creditors with mortgages. Nian Lida called on creditors to vote against it. To dispel the concerns of creditors, Nian Lida explained that even if they vote against the restructuring plan, creditors can still choose the existing restructuring consideration; the rejection of the restructuring plan does not mean that COSCO SHIPPING will be bankrupt. At present, the voting on the plan is still ongoing. The creditor meeting arranged by the protocol in Hong Kong will be held on November 22nd, but the voting will end on November 19th, and creditors need to submit the account holder letter before 8 pm on November 19th.