Some of Meridian's biggest creditors were hedge funds which held a lot of first- and second-lien debt and in effect had a blocking vote in both classes.

Meridian[font=宋体]最大的债权人有一些是对冲基金，持有大量的一、二级抵押债务并能够代表这两个级别的债权人进行投票。

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The biggest losers, of course, are shareholders, who will be wiped out as creditors take the equity in the new company.

最大的输家，自然是股东了。公司的债权人能够获得新公司的权益，但是股东就彻底输光了。

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But one of Italy's biggest property companies, Risanamento, is fighting to stave off its creditors.

不过，意大利最大的地产公司之一的Risanamento正想尽办法逃避其债主们。

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But France and Russia have a list of oil contracts waiting to go ahead once sanctions are lifted, and both countries are among Iraq's biggest creditors.

ECONOMIST: Who will run the new Iraq? | The

Banks, which have anyway never had much experience of lending to anyone else, fear that, if they do not keep handing out cash to their biggest creditors, they themselves may be dragged down too.

ECONOMIST: Cutting down the chaebol

Mr Bush is expected to press for a cancellation of at least four-fifths of the debt and maybe as much as 95% while Iraq's two biggest creditors, France and Russia, are seeking a much smaller reduction.

ECONOMIST: Agreed at last | The