Creditors Approve Garuda $9.7B Debt Restructure
Credit: Rob Finlayson
After three postponements, creditors have finally given the go ahead for Garuda Indonesia’s IDR142 trillion ($9.7 billion) debt restructure, saving the flag-carrier from bankruptcy. Ninety-five% of the 501 claimants approved the proposal, more than the minimum two-thirds majority required. Garuda...
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