A simple majority vote, provided it represents two-thirds of Garuda's liabilities held by creditors attending the meeting in a Jakarta court, will secure a binding agreement for all claimants, which include holders of the airline's US$500 million sukuk.- Reuters
JAKARTA, June 17 (Reuters): Garuda Indonesia's creditors including Britain's Rolls-Royce and European planemaker Airbus are voting on Friday on an over US$9 billion debt restructuring proposal, with the carrier confident of winning enough backing to move forward.
A simple majority vote, provided it represents two-thirds of Garuda's liabilities held by creditors attending the meeting in a Jakarta court, will secure a binding agreement for all claimants, which include holders of the airline's US$500 million sukuk.
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