They want to see staff cuts, which have been light so far, and the sale of assets.
Any sale of assets must be approved by the court.
But then why were they tied to the asset sale?
It can raise that money from the sale of other assets.
The two concerns agreed to the asset sale on March 11.
Its loss before gains from the sale of assets in the same period was around $2 billion.
But not enough to avoid a substantial sale of assets.
Whether it can do that without the sale of substantial assets is an open question.
Proceeds from the sale of certain assets would have to be used to pay down the new notes.
In 2000, after recording a $1.2 billion asset sale, the company reported a profit of $229 million.
