creditors' committee

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.

creditors' committee

A group of lenders who seek to protect their interests in connection with a borrower that experiences financial difficulties.
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The Company will report the proposal made by the holders of the MTNs to the financial creditors' committee and will respect any agreement to be reached among holders of the MTNs, the financial creditors' committee and the lead underwriter of the MTNs with respect to the last resolution passed by holders of the MTNs described above.
An unsecured creditors' committee plays a major role in Chapter 11 cases.
WASHINGTON, Aug 27 (KUNA) -- Managing Director of the International Monetary Fund (IMF) Christine Lagarde welcomed on Thursday an agreement on the terms of the debt exchange offer between the Ukrainian government and the ad hoc Creditors' Committee of holders of Ukraine's sovereign and sovereign guaranteed debt.
24 October 2014 - The creditors' committee of Lithuanian lender Bank Snoras AB said today it had authorised the Bankruptcy Administrator to engage in final negotiations with a bidder consortium led by local investment group Invalda LT AB (VSE:IVL1L), which is looking to acquire Finasta Banking Group.
Mummery, who oversaw the creation of a creditors' committee at the meeting, said: "The formation of the committee is helpful but unfortunately does not enhance any dividend prospects.
US Airways said it was informed earlier in the day that the Official Unsecured Creditors' Committee would not meet its demands by the airline's deadline of 1 February 2007.
Delta Air Lines' Official Creditors' Committee declined to give a swift thumbs-up to the airline's proposed Plan of Reorganization and accompanying Disclosure Statement released Tuesday.
KGI chaired weekly meetings with the factor banks, creditors' committee professionals and, eventually, the equity committee professionals.
Provided that discussions with the agents, lenders, and Creditors' Committee continue to progress on a productive basis, Lake Las Vegas anticipates that it will be able to file its Plan of Reorganization and Disclosure Statement with the Bankruptcy Court so that the Disclosure Statement may be considered by the Court at a hearing scheduled for October 15, 2009.
However, the Bankruptcy Code also provides unsecured creditors an active role and meaningful standing in a Chapter 11 proceeding through a Chapter 11 creditors' committee.
The Unofficial Committee of Unsecured Claimholders of Delta Air Lines has expressed disappointment over the fact that the Official Creditors' Committee declined to take the actions requested by US Airways in connection with its merger proposal.
We will continue to work with the Creditors' Committee as it evaluates the value created by our proposal compared with Delta's standalone plan.