How to use in-sentence of “creditors”:
– In many countries a company or business can ask the courts for “bankruptcy protection” to try and protect the business so that the creditors cannot destroy all of the physical capital and goodwill by breaking it apart and moving it away.
– After a bankruptcy is filed, creditors are notified that they are to stop trying to collect money directly from the debtor and are to make claims for payment to the bankruptcy court.
– Where it is an organisation which cannot pay its debts, the creditors may ask the court to appoint a “liquidator”.
– In the 2008 American economic failure, creditors lent money to debtors who could not pay back that money.
– On 30 July 2008, the creditors voted to accept a rescue package put together by the company’s new board of trustees.
– Where it is a person who cannot pay their debts, the person’s creditors may ask the court to appoint a “trustee in bankruptcy”.
