Creditor's committee

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Creditor's committee

A group representing firms that have claims on a company facing bankruptcy or extreme financial difficulty.

Creditor's Committee

In bankruptcy, an ad hoc committee of creditors who have an interest in seeing as much debt as possible recovered from the person or company filing for bankruptcy.
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Debtors frequently provide creditors' committees with confidential nonpublic information about their business to facilitate the committees performance of its duties, and often require that a committee and its members sign confidentiality agreements.
Two creditors' committees were appointed by the bankruptcy trustee: one for creditors like vendors, and the other for people with implant claims.
Beers will lead the division as it continues to provide out-of-court and in-court M&A, corporate finance, and restructuring advisory services to underperforming companies, debtors, creditors, creditors' committees, equity holders, and other constituents, all on a national basis.
As creditors' committees' legal fees are normally paid by the debtor's estate (other creditor's legal fees are not), creditors' committees may be the only stakeholder with sufficient incentive to "fight the good fight.
He has served as lead counsel to creditors' committees, debtors in complex Chapter 11 cases, and in transactional work in dozens of cases representing sellers, purchasers, and creditors of financially troubled companies throughout the United States and Canada.
Creditors' committees add significant value to unsecured creditors by acting as a counterweight to the power and leverage that a debtor and secured lender possess in a bankruptcy case.
The founders of the company have extensive experience consummating M&A transactions and in valuing, structuring and consummating bankruptcy transactions and complex financial transactions on behalf of debtors, financial institutions, law firms, bondholders and bondholders' committees, creditors and creditors' committees, equity and equity committees, institutional investors, and others.
Debtors frequently provide creditors' committees with confidential non-public information about their business to facilitate the committee's performance of its duties, and often require that a committee and its members sign confidentiality agreements.
Rather than allowing the retailer to cure lease defaults and convert the remaining lease obligations to a higher priority, creditors' committees will be more likely to force a tenant to "reject" the lease and liquidate.
Since BAPCPA was enacted, both debtors and creditors' committees have frequently obtained court orders that more clearly describe the committee's disclosure and solicitation obligations.
He has represented debtors, creditors, official and unofficial creditors' committees, trustees and receivers in all types of bankruptcy and insolvency proceedings.
Creditors' committees occupy a position at the heart of the Chapter 11 process and play a critical role in what occurs in most Chapter 11 cases.