Meanings of trade creditors in English

The company said it was continuing to pay employees, suppliers and trade creditors.

Workers and trade creditors would get 100 cents in the dollar.

The remaining amount is owed to trade creditors and banks.

He said about $20 million of the debt was owed to trade creditors.

It is understood that all trade creditors will be paid in full under the restructuring.

The company said it began cash payments to trade creditors in a statement issued on June 30.

Nakheel will issue further tranches, a spokeswoman said, with some claims from trade creditors yet to be resolved.

The indebted developer has said that 91 percent of its trade creditors have agreed to its restructuring proposal.

Administrator Brendon Gibson said the arrangement would also allow for day-to-day trade creditors and employees to be paid in full.

Under the scheme, the jobs of employees have been saved and trade creditors have been paid, the court was told.

Such intangibility would usually cause investors to steer clear but Nakheel's trade creditors have limited options, said a Dubai-based trader.

Secured creditors such as banks or bondholders are first in line, followed by unsecured creditors, trade creditors and eventually shareholders.

Unsecured trade creditors, who were still owed just under $9m, are not expected to get any money back.

In its filing, GM also provided an updated list of its major trade creditors including Starcom Mediavest Group and Delphi Corp.

The company's restructuring plan provides for full payment of claims of its continuing trade creditors, which includes vendors, suppliers and landlords.

The Revenue Commissioners are owed £400,000 and trade creditors are said to be owed around £200,000.