Many creditors hope to avoid such a proceeding because of the large costs and an uncertainty about a raft of asbestos lawsuits that the company is facing.

The creditors are hoping to recoup money from the former insiders.

The quick sale of the assets is what the creditors had hoped for.

The paper's unions and creditors hope that competition among bidders will sweeten potential offers.

The creditors had hoped to get a $1 billion offer from Renault, which has been in takeover talks with Samsung since December.

The unsecured creditors are hoping to get the face value of their investments back, but they might not be paid interest.

It was not clear what creditors could hope to receive from the liquidation.

The company's creditors hope to reach terms by Friday for a sale to General Motors.

Shortly after this they were made bankrupt, like many other country finns, alas; and their creditors cannot hope for sixpence in the pound.

Instead, the creditors hope that competing buyers will lift the price.