Introduction

• Jurisdiction: United States

Introduction

This book is a collective effort of past and present leadership and members of ABI's Unsecured Trade Creditors Committee. Its purpose is to provide a handy resource for counsel and other professionals that frequently represent, or are considering representing, an official committee of unsecured creditors (the "committee").

The committee serves an important function in the chapter 11 process by giving a voice to the holders of general unsecured claims as to whether a debtor will be reorganized, sold as a going concern or liquidated. The committee serves the interests of all holders of general unsecured claims, from the "mom and pop" creditor with a $100 claim to the institutional creditor holding a $50 million claim, and from the supplier, to the landlord, to the bondholder, to the former CEO.

The committee has been described as the...