creditors' committee

creditors' committee
A committee of creditors appointed by the Office of the United States Trustee in chapter 11 cases, and sometimes in chapter 7 cases, to specifically represent the interests of the creditors (

United Glossary of Bankruptcy Terms 2012.

Glossary of Bankruptcy.

Look at other dictionaries:

  • creditors' committee — England, Wales After a company has been placed into administration, a meeting of the company s creditors (usually convened by an administrator shortly after his appointment) can resolve to establish a creditors committee under Part 2, Section B,… …   Law dictionary

  • creditors' committee — A group representing firms that have claims on a company facing bankruptcy or extreme financial difficulty. Bloomberg Financial Dictionary * * * creditors committee creditors committee ➔ committee * * * creditors committee UK US noun [C] US LAW ► …   Financial and business terms

  • Creditors' Committee — A group of people who represent a company s creditors in a bankruptcy proceeding. The creditors committee is usually further divided between secured and unsecured creditors. The secured creditors committee consists of lenders that have a first… …   Investment dictionary

  • creditors' committee — A committee of creditors of an insolvent company or a bankrupt individual, which represents all the creditors. They supervise the conduct of the administration of a company or the bankruptcy of an individual or receive reports from an… …   Big dictionary of business and management

  • creditors’ committee — Fin a group that directs the efforts of creditors to receive partial repayment from a bankrupt person or organization. Also known as creditors’ steering committee …   The ultimate business dictionary

  • creditors' committee — In bankruptcy, a committee of representative creditors elected (in Chapter 7) or appointed (in Chapter 11) to consult with the bankruptcy trustee or United States Trustee, and to perform other services in the interest of the represented creditors …   Black's law dictionary

  • creditors’ committee — / kredɪtəz kəˌmɪti/ noun a group of creditors of a corporation which is being reorganised under Chapter 11, who meet officials of the corporation to discuss the progress of the reorganisation …   Dictionary of banking and finance

  • committee — com‧mit‧tee [kəˈmɪti] noun [countable] a group of people within an organization such as a government, company, or political party who have been chosen or elected in order to do a particular job, take decisions etc: • They will discuss the issue… …   Financial and business terms

  • 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 …   Glossary of Bankruptcy

  • creditors’ steering committee — Fin see creditors’ committee …   The ultimate business dictionary

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