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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She actively represents a variety of parties to insolvency proceedings, including creditors, creditors committees, creditors committee members, trustees and foreign representatives.
The creditors committee of Azerbaijan's Bank Standard JSC, which is in the process of liquidation, requires a change in the order of distribution of assets of bankrupt banks, as envisaged by the draft amendments to the Law on Banks, prepared by the committee and which is planned to be presented to the government for consideration.
He is a member of NACM and is affirmer member of the board of directors of the American Bankruptcy Institute and is affirmer co-chair of ABI's Unsecured Trade Creditors Committee. Bruce is also the co-chair of the Avoiding Powers Advisory Committee working with ABI's commission to study the reform of Chapter 11.
A critical component of what a creditors committee does is determine (or make sure that the bankrupt retailer as the "debtor in possession" has determined) which leases are below-market and could be sold.
The creditors committee argues that the money should be considered in settling the claims against the archdiocese, while the archdiocese argues that the trust fund supports an essential element of the Catholic faith, the belief in the bodily resurrection after death.
The United Mine Workers of America (UMWA), Patriot's unsecured creditors committee and U.S.
GTATs expert witness, however, revealed that two or three of these critical vendors were on the seven-member official creditors committee, which is supposed to represent all creditors.
AMR's bankruptcy creditors committee is poised for a vote early next week on any merger accord, with an announcement as soon as February 12, two people said.
AMR's bankruptcy creditors committee is poised for a vote early this week on any merger accord, with an announcement as soon as Tuesday, two people said.
On Thursday, AMR and its unsecured creditors committee asked the U.S.
US Airways, in hot pursuit of its bigger rival all year, sounded out AMR creditors about how they wanted to be paid off before proposing a formal all-stock merger proposal at a meeting with the creditors committee in November, the people said.
Under the all-stock proposal US Airways made in mid-November at a meeting with AMR's unsecured creditors committee, the bankrupt airline's creditors would own 70 percent of the merged company and US Airways shareholders 30 percent, the person said.