"When the company finally comes to the table [to implement a restructuring], the level of financial distress is likely to be more severe and there will be less time to implement a successful restructuring," says Mr Field.
Even if a deal on losses is agreed in principle, a substantial number of holdout creditors could force the Greek government to implement a coercive restructuring.
Announcing the plan on the school's website, USC President C.L. Max Nikias wrote that he and the school's senior leadership team intend "to revisit our core values, revise our existing employment policies, and improve our campus culture, as well as to implement a major restructuring of a number of the university's operations". .
"My administration has worked diligently to develop and implement a restructuring plan for the City of Detroit," Bing said in a statement sent to The Huffington Post.
"A new growth strategy is needed, and we must implement a restructuring to that end," Naoyuki Akikusa, Fujitsu's president, said at a news conference.
"In this context we have begun to implement a new strategy, including a restructuring of senior management, a new approach to managing our portfolio of investments and the transformation of our core business GNM into a digital-first organisation.
"A Chapter 11 filing may ultimately be the means to implement any restructuring proposal agreed to with our creditors," NRG's chief operating officer, Richard Kelly, said in a statement, adding that it had no immediate plans for such a move.
Referring to the meeting on 4 March 2015, Goldman said: "Specifically in relation to the BHS pension schemes, Sir Philip expressed his strong wish to agree a sustainable solution and there was a discussion as to the possibility of implementing a restructuring with the approval of the TPR [the Pensions Regulator].
An AMD spokesperson pointed out via e-mail that AMD has implemented a restructuring plan designed to reduce the firm's break-even point and divested noncore assets under Meyer's leadership.
