Unsecured Creditors' Committees (Official and Ad Hoc)
Official unsecured creditors' committees are established in most chapter 11 cases to represent and protect the interests of trade creditors, bondholders, and other holders of unsecured debt. A creditors' committee is a group generally composed of the largest creditors of the debtor who have formed a committee to pursue their joint interests against the debtor. This is often the most effective way for an individual company to maximize their return. The debtor has more incentive to cooperate with a committee rather than an individual creditor. In addition, the fees and costs incurred by the committee's professionals are paid by the debtor, not the individual creditors. Blakeley LC has vast experience and a successful record in representing committees. The firm has been selected over many other competing firms to represent dozens of committees in large and small bankruptcy cases. See our committee cases list. |