Kuwait's Global Investment House has received the backing of "an overwhelming majority" of creditors for its debt restructuring plan, the company said in a statement on Monday.

The restructuring, its second in three years, was approved by creditors representing 96.7 per cent by value and 90.9 per cent by number at a meeting in Dubai earlier on Monday, a company filing to the London Stock Exchange said.

A court hearing has been scheduled for December 3 to grant final legal approval to the restructuring plan, it added, and the agreement will take effect on that date or soon after if the court assents.-Reuters