How can I settle the amount post-dated cheques with suppliers if I cannot pay due to losses?

Hi,

I had issued 3 PDC cheques worth AED 181,000 each and 4 PDC cheques worth 111,000 each to 2 different suppliers. I suffered some losses and hence was unable to pay. The company is in my wife's name.

I need some time to settle the debt but they don't want to give me more time. How can I safeguard my company and family?

Also is there any law where I can get time to restructure my company unit and then can get protection against all debt-related legal implications?