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"There just appears to be inadequate resources to get creditors paid".
Mr. Saft said the court might want to go ahead with the Rudin deal to get creditors as much money as possible quickly.
People who get into debt trouble, commonplace in Japan's moribund economy, also sometimes hire them as muscle to get creditors to extend easier terms.
Daria Kaleniuk of the Anti-Corruption Action Centre says the government is selling the "promise of reforms" in place of real ones.The government's next challenge will be to get creditors to accept a debt-restructuring deal.
Hynix Semiconductor, struggling to get creditors to roll over $4 billion in debts, is forming a joint venture with two Chinese companies to produce a type of liquid crystal display.
In the old days – think of the 1980s Latin American debt crisis – one could get creditors, mostly large banks, in a small room, and hammer out a deal, aided by some cajoling, or even arm-twisting, by governments and regulators eager for things to go smoothly.
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It has been working to get creditor backing for a plan to restructure.
Their inconsistency, even incoherence, over getting creditors to pay has done much to spread contagion.
It gets creditors involved in making decisions about life expectancy that they are not qualified to make".
The challenge Padilla faces in getting creditors to come to the table, after all, is that his leverage with them is limited.
At Clear Channel, getting creditors to go along with such a plan could be tough because the original deal was fraught with so much ill will, including an unusual court fight.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com