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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creditors' committee

References in periodicals archive ?

Under Section 1102 of the Bankruptcy Code, the United States trustee has the authority to appoint an official unsecured creditor's committee in a Chapter 11 case.

Altering unsecured creditors' committee membership: no easy chore!

However, Nakheel is waiting for approval from the bank creditor's committee before making payment on outstanding debts.

Dubai World deal not interesting enough?

When a company is in bankruptcy or receivership, such investigations are often done at the direction of a creditor's committee, the receiver or a bankruptcy trustee.

When accounting practices go under the microscope: once a financial investigation has begun, it's time for an all-hands-on-deck alert. Time is precious, and help from a broad-based forensic team--lawyers, accountants and other specialized professionals--can be highly valuable

In a prepackaged bankruptcy, a debtor restructures outstanding debt, often through a creditor's committee, before filing a chapter 11 bankruptcy petition.

Accounting for bankruptcies: implementing SOP 90-7

The "plan date" is the earliest of (1) the filing day with the court of the first plan of reorganization that is endorsed by a creditor's committee, (2) the filing day with the court of the first plan of reorganization for which a disclosure statement is approved by the court or (3) the first day on which the loss corporation has sufficient acceptances to a reorganization plan to assure acceptance of the plan under bankruptcy rules.