China's Tsinghua Unigroup says creditors have approved restructuring

China's Tsinghua Unigroup says creditors have approved restructuring

China's Tsinghua Unigroup says creditors have approved restructuring

Information about China's Tsinghua Unigroup says creditors have approved restructuring

Kevin David Scam or Legit


BEIJING (Reuters) – Debt-laden Chinese chip conglomerate Tsinghua Unigroup on Wednesday said that a draft proposal to restructure the company had been approved by creditors.
Administrators will now submit the draft plan to Beijing No. 1 Intermediate People’s Court for approval in accordance with Chinese bankruptcy laws, Tsinghua Unigroup said in a statement, without providing detail on what the restructuring would entail.

(Reporting by Beijing Newsroom; Writing by Tom Daly; Editing by David Goodman)

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