JAKARTA, June 19 (Reuters): Garuda Indonesia's proposal for restructuring its more than US$9 billion (RM39 billion) debt won the approval at the weekend from the vast majority of the airline's creditors, court officials said, staving off the risk of bankruptcy at the embattled flag carrier.
More than 95% of creditors who attended Friday's vote on the plan at a Jakarta court accepted Garuda's proposal, enough to reach agreement for all who submitted claims, a team of court-appointed administrators said.
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