Use of This Manual

• Jurisdiction: United States

Use of This Manual

The federal bankruptcy laws envision the active participation of unsecured creditors through court-appointed creditors' committees as key to the effective functioning of the chapter 11 reorganization process. Often, however, the committee does not fulfill the role contemplated by Congress. With most committee members having had little or no previous experience in serving on creditors' committees, the failure of committees to function effectively has often been linked to the need for committee members to become better educated about the role of a creditors'...