China's Everbright Shipbuilding resumes operations after restructuring

On March 29, 2024, the proposal on whether to convert the bankruptcy liquidation case of Everbright Shipbuilding into a bankruptcy restructuring procedure was voted through during the first creditors’ meeting. Subsequently, the case administrator submitted the draft restructuring plan of Everbright Shipbuilding to the Ezhou Intermediate People’s Court.

On December 17, 2024, Everbright filed an application for restructuring with Ezhou Intermediate People’s Court on the grounds that it met the conditions for restructuring. Seven days later, the court ruled that the restructuring should be formally initiated.

On February 19, 2025, the third creditors’ meeting approved the draft restructuring plan for Everbright Shipbuilding through a group vote. On February 24, the Ezhou Intermediate People’s Court ruled to approve the restructuring plan and terminate the restructuring proceedings for Everbright Shipbuilding.

Earlier this month, Chinese media confirmed that Everbright's restructuring was finally completed.