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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For creditors in a Chapter 11 bankruptcy case, quick action is essential in protecting rights, asserting and monitoring claims, preventing unnecessary pitfalls, and maximizing the eventual recovery amount. These six early steps can help creditors get on the right track from the beginning of the case. Stop contact with the debtor. When a company files […]

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