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But any foreign firm would surely want control, in order to restructure Proton properly.
The online clothing retailer Nasty Gal is reportedly filing for bankruptcy in order to restructure after two years of financial troubles.
On August 8th the country's sovereign-wealth fund offered to buy the 30% of shares in private hands in order to restructure the airline.
He seemed not to be aware that Puerto Rico, unlike states or cities, is unable to take advantage of chapter nine of the bankruptcy code in order to restructure its debt – the cause of the current crisis.
Joint administrator Lee Manning said: "We have continued to review the performance of individual stores since our appointment a month ago and have concluded that further closures are necessary in order to restructure the company for sale".
The events which led the former citizens of West Germany to labour in order to restructure the equally catastrophic economy of the former East were accepted with less complaint, as a national duty.
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In the S.E.C. filing, the carrier said that "in order to successfully restructure the company, alternative restructuring scenarios in the context of a judicial reorganization also must be considered," referring to the possible need to seek bankruptcy protection.
To placate irate investors, Mr Halim promised to buy the shares back with his own money three years later, but he now seems unlikely to be able to do so in full.All this explains why investors were so cheered when, on July 23rd, the government said that it intended to take over UEM thereby, in effect, seizing control of Renong in order to restructure the group in earnest.
Some investors want York, who was also Tracinda's vice chairman for four years until 1999, on the board in order to speed restructuring efforts at GM.
Nonetheless, President Vladimir Putin has told Russian officials to restructure a 2.5bn-euro loan extended to Cyprus in 2011 in order to support the restructuring effort.
It is necessary to work with what you have, rather than reorganise, in order to avoid a restructuring debate that becomes sterile and disabling.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com