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"We all understand that corporate America is going through a restructuring," he said.
"Stanley Works is not going through a restructuring, it is going through a re-creation process.
It should also contain provisions for lending into arrears: lenders willing to provide credit to a country going through a restructuring would receive priority treatment.
Mr. Hartenstein, meanwhile, will devote more time to DirecTV's Latin America service, which has been going through a restructuring, and its operations in Japan, where DirecTV lags behind its rival, Sky PerfecTV.
"NTL is currently going through a restructuring and consequently it would be very hard, even if we wanted to, to merge with them, to do it at the moment.
"The Hobbit" films were already delayed for months while Warner struggled to reach financial terms with MGM, which has been going through a restructuring of some $4 billion in debt, and lost its intended director, Guillermo del Toro, who tired of waiting.
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"In 2002, Rwanda's national parks went through a restructuring process.
Some of the hotels failed to repay the loans and went through a restructuring in the early 1990's.
"Mitt Romney argued that instead of a bailout, we should let the car companies go through a restructuring under the bankruptcy laws," Mr. Fehrnstrom said.
It suffered major losses and had to go through a restructuring because of the subprime mortgage crisis and is no longer issuing insurance contracts.
"Varig could go through a restructuring period, but that doesn't mean it will become a state company," Mr. Wilson told reporters.
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Justyna Jupowicz-Kozak
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