Winsway gets Hong Kong court sanction for schemes of arrangement

By Sheri Kasprzak

New York, May 20 – Winsway Enterprises Holdings Ltd. received Hong Kong Court approval and sanction for its schemes of arrangement, said a notice from the company.

The full terms of the restructuring will be announced at a later time, but the company received approval from 96.5% of bondholders by number and 98.3% of the bonds by value in early May.

The company’s restructuring effective date is expected to be June 23.

Based in Hong Kong, Winsway is an importer of coking coal. The company filed for bankruptcy on April 6 in U.S. Bankruptcy Court for the Southern District of York under Chapter 15 case number 16.10833.

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