SHANGHAI (Reuters) – Eleven entities belonging to embattled conglomerate HNA Group, including its flagship carrier, Hainan Airlines, will hold a creditor meeting on Monday, according to a document detailing its debt restructuring plan, seen by Reuters.

According to the plan, 11 entities will be reorganized as a whole and the majority of liabilities of the group will be decreased via shareholder repayments and debt-to-equity Swaps.

The entities’ creditors have indicated that the unpaid debt amounts to them total 397.2 billion Yuan (61.43 trillion). The court has only recognized 161.29 million yuan and they will begin the restructuring process.

All principal creditors owing less than 100,000 Yuan ($15.465.01) will receive full repayment. The document states that any amount above this level will be partly paid by HNA and other parties as well as in Hainan Airlines’ stock.

The document stated that the creditors’ committee must still approve the plan.

HNA was placed into bankruptcy administration in February. A working group established by Hainan’s government has been working to address the company’s liquidity problems.

The company announced late Friday that its chief executive and chairman had been taken into custody by Chinese police for alleged criminal offenses.

HNA announced that it will be reorganized into four separate sections. This includes one for aviation and another for financial businesses. It also stated that any equity that was held by the old shareholders would be destroyed.

In the 2010s HNA Group used a $50 billion global acquisition spree, mainly fuelled by debt, to build an empire with stakes in businesses from Deutsche Bank (DE:) to Hilton Worldwide.

However, the Chinese government and other regulators were concerned about HNA Group’s spending. It sold assets including the airport services company Swissport, and Ingram Micro electronics distributors to make way for its airlines and tourism business.

($1 = 6.4662 renminbi)