It would not be easy for other creditors to win against the two banks, though, she added.

He said the objective was to get the highest total return for the company and its creditors.

This is a problem for secured creditors who may wish to vote.

Such a strategy would allow the company to generate cash for its creditors.

That part payment will then be available for the buyer's other creditors.

It has not made a formal proposal, lawyers for the company's creditors say.

Shutting down a business is often the best option for creditors, but it can have a high human cost.

This could lead to a bigger "net present value" loss of 60% to 65% for private creditors.

And since it can sometimes take months for creditors to send accounts to collection, the time difference could matter considerably.

It might seem madness for such small creditors to pursue their claims.