Debt-laden United Pan-Europe Communications (UPC), the Dutch telecoms operator, is to seek permission from the US bankruptcy court on January 7 to request creditor approval of its revised financial restructuring plan.

UPC has been working with advisers Lazard on the restructuring plan to trim its debt burden by €7.5bn ($7.7bn). If it secures court approval for the restructuring, it will hold a meeting for US creditors on January 28, with a similar event for European creditors scheduled for February 28. The long list of creditors includes international banking names such as JP Morgan and Toronto Dominion Bank.