Gilat Satellite Networks [Nasdaq: GILTF] announced Wednesday that its bank lenders and the holders of its 4.25 percent convertible subordinated notes due 2005 voted to approve the company’s debt restructuring plan.

The approval of the plan, allowing the company (Israel) to restructure its principal debt obligations, is the final creditor approval required for debt restructuring process, Gilat said. The satellite operator expects to file the agreement with the Israel District Court in Tel Aviv to obtain the court’s approval.