SHANGHAI (Reuters). Creditors at China’s HNA Group voted in favor of the restructuring plan. This was according to a statement posted by HNA on WeChat on Saturday.

A court located in China’s southern Island of Hainan said that the vote was in compliance with China’s bankruptcy laws.

HNA placed into bankruptcy administration February. The Hainan government created a working committee to solve the company’s liquidity problems.

HNA will get strategic investment in the amount of 38 billion Chinese Yuan (or $5.88 billion) following its restructuring. This will be distributed to 11 of its entities, including Hainan Airlines, its flagship carrier.

HNA built an empire using stakes in companies from around the world, using a global acquisition spree of $50 billion. Deutsche Bank Hilton Worldwide.

China’s government and regulators were skeptical of its spending. Concerns grew about its debts and it decided to sell assets like the airport services company Swissport, and Ingram Micro electronics distributors in order to concentrate on its tourism and airline businesses.

According to Reuters, HNA Group informed a creditors meeting in June that 67,400 parties sought a total amount of 1.2 billion yuan. This was according to a participant at the meeting online.