Creditors

American exporter Anderson Hay faces collapse after major lender PGIM rejected its restructuring plan over a $15 million debt dispute, prompting a crucial court hearing.

Both paths are designed to deal with obligations that cannot be paid as scheduled. A lawyer explains when it is worth reaching an arrangement and when an insolvency proceeding might be more appropriate.

The period after the procedure is halted may leave debtors with huge debts before the Execution Office and without an alternative path that fits their financial capacity. How to cope.