Solid Energy's creditors have voted for a gradual sell off of the company's assets at a watershed meeting in Christchurch.

Creditors had to choose between immediate liquidation, or the company's proposal of a two year and a half year sell down.

The sell down will see trade creditors, paid in full within the next week and larger creditors like banks and bondholders paid 40-cents on the dollar over the two and a half years.

Solid Energy Acting Chairman Andy Coupe said the group still faces challenges and he's pleased the path is now clear to move on with the process and get payments to creditors under way.