Creditors of China Aviation Oil, the collapsed oil trading group, may recover as little as 20% of their money if a proposed restructuring plan goes ahead.

Deloitte & Touche Financial Advisory Services, which was hired by China Aviation Oil in the wake of the discovery of derivatives losses amounting to $550m (€413.3m) late last year, is asking creditors of the company to accept write-downs on the company's debt of up to 80%, according to reports from Reuters.