1.   A company in default may still pay its debts in the future, while a bankrupt firm may leave its creditors with nothing.

2.   Complex bankruptcy laws that make it difficult to seize assets has left creditors with no choice but to wait.

3.   In approving the plan Tuesday, Primakov left Western creditors in the dark over key details.

4.   It also left individual creditors of the two men, including investors in Baron, holding an empty bag.

5.   Some would be allowed to fail, leaving the creditors with big losses.

6.   Ultimately, the company making the rigs filed for bankruptcy and the vessels were chopped up for scrap, leaving creditors, including the government, in the wake.

7.   Another authorized the government to remove their performing assets, which could have left foreign creditors stuck with the losers.

8.   The filing could leave some creditors with a fraction of the money they are owed.