creditors' committees

creditors' committees
creditors' committees
Creditors' committees can play a major role in chapter 11 cases. The United States trustee, a federal employee to be distinguished from a private case trustee or panel trustee, appoints the committee, which ordinarily consists of unsecured creditors who hold the seven largest unsecured claims against the debtor. 11 U.S.C. § 1102. The committee may consult with the debtor in possession on the administration of the case, investigate the conduct of the debtor and the operation of the business, and participate in the formulation of a plan. 11 U.S.C. § 1103. A creditors' committee may, with the court's approval, hire an attorney or other professionals to assist in the performance of the committee's duties. A creditors' committee can be an important safeguard to the proper management of the business by the debtor in possession. (BankruptcyAction.com)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • bankruptcy — bank·rupt·cy / baŋ ˌkrəp sē/ n pl cies 1: the quality or state of a bankrupt filed for bankruptcy 2: the administration of an insolvent debtor s property by the court for the benefit of the debtor s creditors the debt was discharged in bankruptcy …   Law dictionary

  • United States Trustee Program — The United States Trustee Program is an agency of the United States Department of Justice that is responsible for ing the administration of bankruptcy cases and private trustees. The applicable federal law is found at 28 U.S.C. § 586 and 11 U.S.C …   Wikipedia

  • Houlihan Lokey Howard & Zukin — Infobox Company company name = Houlihan Lokey company company type = Subsidiary of ORIX USA | slogan = foundation = (1970) location = key people = num employees = industry = Investment services products = Financial Services Investment Banking… …   Wikipedia

  • United States trustee — An officer of the Justice Department responsible for supervising the administration of bankruptcy cases, estates, and trustees, monitoring plans and disclosure statements, monitoring creditors committees, monitoring fee applications, and… …   Glossary of Bankruptcy

  • bankruptcy administrator — an officer of the judiciary serving the judicial districts of Alabama and North Carolina who, like a United States trustee, is responsible for supervising the administration of bankruptcy cases, estates and trustees; monitoring plans and… …   Glossary of Bankruptcy

  • List of Ordinances and Acts of the Parliament of England, 1642 to 1660 — This is a list of Ordinances and Acts of the Parliament of England from 1642 to 1660, during the English Civil War and the Interregnum.As King Charles I of England would not assent to Bills from a Parliament at war with him, decrees of Parliament …   Wikipedia

  • Bankruptcy in the United States — The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact uniform Laws on the subject of Bankruptcies throughout the United States. Congress has exercised this authority several times since 1801, most recently… …   Wikipedia

  • 1997 rebellion in Albania — Evacuation of U.S. citizens during Operation Silver Wake Date March 1997 …   Wikipedia

  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

  • United Kingdom company law — Beside the River Thames, the City of London is a global financial centre. Within the Square Mile, the London Stock Exchange lies at the heart of the United Kingdom s corporations. United Kingdom company law is the body of rules that concern… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”