"He's talking to the press because it's the only leverage he has," one senior creditor said.

The American creditors have said they will take definitive action by the end of the month if the dispute is not resolved, he added.

But analysts and creditors said its projections were based on conservative expectations.

The average person doesn't understand what a creditor can literally say and do to you in order to collect.

"This is clearly the crown jewel of the business," another large creditor said.

Another senior creditor said, "This puts them in the driver's seat."

Efforts to find a buyer will continue, its biggest creditor said.

Some creditors said they were worried that an effort had been made to pay the employees before the bankruptcy filing.

"When Jess made the commitment, he followed through," the creditor said.

The creditors say they will not sell their interests to the Government.