This, in turn, might require a rejigging of creditors, or the creation of a new type of debt that would convert into equity in certain circumstances.

也就是说应该要求重新调整债权人，或者是建立一个新型债券工具，能够在一些情况下转换成股票。

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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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Some academics argued bank creditors should be forced to swap their debt for equity, for example.

举例来说一些学者认为银行的债权人应该用他们的负债交换资产。

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In a bankruptcy filing in the U.S. (think Refco), segregated futures accounts have seniority over other creditors and equity holders, so futures account holders get paid first.

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Under the reorganization plan, secured bank debt incurred before the bankruptcy as well as unsecured bond debt and certain general unsecured claims will be cancelled with those creditors receiving equity in the reorganized company.

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After creditors of Chrysler , America's third-largest car company, rejected government requests to slash the company's secured debt by 85%, the Treasury reportedly proposed cutting it by 78% and giving the creditors a 5% equity stake.

ECONOMIST: Business this week