Creditors have unanimously accepted a repayment proposal that will keep Ballet BC from bankruptcy.
It involves Ballet B.C. offering creditors a total of $225,000 even though the dance company is in debt approximately $600,000.
The plan is to pay each creditor the first $500 of any money owed and then 25% of every dollar thereafter.
The approval means the ballet troupe's dancers and its artistic director John Alleyne will be in the studio starting January 12 to rehearse its production of Carmen, which runs February 26 to 28.
"We are absolutely delighted with the outcome of today's vote, as well as the immense support ballet fans across the province have shown Ballet BC," said president and chairman Graeme Barrit.
Barrit said his organization had raised $200,000 in pledged donations money the company required to finance the rehiring of staff and dancers.
All 38 of Ballet BC's staff and dancers were laid off in November.
An anonymous donor helped out by buying a thousand tickets to a visiting production of the Nutcracker, and the public responded by buying more than 12,000 tickets.