In announcing its bankruptcy filing, the company said it faced "mounting liquidity issues and the need for immediate cash to fund operations."

"This created a liquidity issue and the company had little margin for error," said Mr. Radinsky.

You've got companies with liquidity issues, or those that have done a poor job consolidating facilities.

Distressed Lending typically provides credit facilities to borrowers with good cash generation capacity but short-term liquidity issues.

The airport company was faced with severe liquidity issues, and the creditors threatened to file for bankruptcy from 1 December.

The company said it was seeking a waiver from creditors because of lower-than-expected first-quarter results and "liquidity issues."

Beginning in early October 2008, several Russian banks failed due to liquidity issues related to US credit derivatives.

In the short term this was to solve the liquidity issue but further diluted the groups capitalisation.

"Recapitalizing the bank insurance fund is a liquidity issue," he said.

Spain, Italy (and of course Belgium and France) are all mainly liquidity issues.