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Collier handbook for creditors' committees.

[United States] : Matthew Bender & Company, Inc., [1987]-

[Place of distribution not identified] : [LexisNexis], [2013]-

1 online resource

Updated annually (every November)

All the practical guidance members of a committee need for participation in the debtor's reorganization, with forms, sample letters and more. Collier handbook for creditors' committees has been updated to reflect the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 and contains the latest advice and case law on all aspects of creditors' committees in Chapter 11 cases. Also found in the Handbook is information on committees in out-of-court workouts and Chapter 7 liquidation cases. Some of the topics covered on the smooth and successful conduct of a Chapter 11 creditors' committee are: Convening the first meeting; How to organize the committee and select officers; By-laws to provide "rules of the road" for committee operation; Terminating the committee. Topics that will assist the committee to actively participate in a debtor's reorganization include: The role, duties and powers of a creditors' committee, including the obligation to provide creditors with access to information and to solicit comments from creditors; Eligibility to serve on a committee; Creation and composition of a committee; Fiduciary responsibilities; Plan negotiations; Compensating professionals utilized by the committee; Reimbursement of expenses incurred by the committee Among the pertinent Code provisions added or amended by the 2005 legislation and referenced in the Handbook are: New section 1102(a)(4), which restores the statutory authority of bankruptcy courts to order the United States trustee to change the membership of a committee; New section 1102(b)(3), the effect of which is to dramatically increase the scope of the duties of a committee secretary; Amended section 1121(d), which enhances a committee's ability to come forward with a plan of its own; Amended section 503(b)(3)-(4), under which a committee member may no longer be reimbursed for any of its own professional fees and expenses as a priority expense.

Database includes most recent edition only.
Authors: Irving Sulmeyer, David S. Kupetz ; Collier editors-in-chief, Alan N. Resnick, Henry J. Sommer.

Description based on source information screen, viewed August 12, 2022.

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