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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State Bank should know that any investor group buying out the bank's loans will do so because it will automatically replace the Indian lender to become the strongest voice on Essar's all-important creditors' committee. If this debt holder then backs the Ruias' last-ditch offer to outwit ArcelorMittal and pay lenders about Rs544 billion -- with no clear explanation for where the cash-strapped group is raising the funds -- then it's game over.
In addition to the directors, Lampert will also likely face probing from Sears' unsecured creditors' committee, a group selected by a government bankruptcy watchdog in most cases, the sources said.
An overwhelming majority of the abuse victims voted in favor of a plan submitted by the creditors' committee in May 2017.
At the meetings, the Company reported its recent operating conditions, the progress made with respect to the financial creditors' committee, information relating to potential introduction of strategic investors and liquidation of certain assets.
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.
The comprehensive agreements among Pinnacle, Delta, the Air Line Pilots Association, International (ALPA) and the Official Committee of Unsecured Creditors (Creditors' Committee) in Pinnacle's Chapter 11 cases include: An amendment to the Company's existing debtor-in-possession credit facility, to provide Pinnacle with $30 million of additional liquidity to support its continued operation through emergence from Chapter 11 and an additional $22 million to fund certain required payments to Pinnacle's pilots under a Bridge Agreement and related employer taxes.
"This work, while progressing well, takes time, and American and the unsecured creditors' committee believe that the proposed extension to April 15, 2013, is appropriate for this process to continue in an orderly and efficient manner."
The loan was originally set for $100 million but the bank's creditors' committee pushed to raise it.
A creditors' committee was formed and the administrators proposals were approved at a well attend meeting on Tuesday.
The company appointed a creditors' committee in November 2010, a body that was to begin discussions enabling an alteration to existing repayment terms