When a company files a Chapter 11 bankruptcy petition, one of the first things to happen is the formation of a creditors’ committee, to participate in negotiations with the debtor and assist in the development of a reorganization plan. Typically, the 20 or so largest unsecured creditors of the debtor are invited to join the […]

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In virtually all Chapter 11 bankruptcy cases, a committee of unsecured creditors will be appointed. The committee, which plays a significant role in the bankruptcy process, can have a major impact on the outcome of a case. Here is a closer look at the various aspects of a typical Chapter 11 creditors’ committee, including its […]

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