British cinema chain operator Cineworld Group said today that a US court had approved its debt restructuring plan.
The company, which filed for Chapter 11 protection in the US last year, said it continued to expect to emerge out of bankruptcy in July.
The proposed restructuring involves the release of about $4.53 billion of the group's debt, a rights offering to raise gross proceeds of $800m and the provision of $1.46 billion in new debt financing, Cineworld had said.
