Table of Contents

• Jurisdiction: United States

Table of Contents

Introduction..............................................................1

Chapter I

Role of the Committee Generally...............................5

A. Advocating for Unsecured Creditors as a Fiduciary.............................6

B. Communication with Unsecured Creditors...........................................8

1. Duty to Share Information under § 1102(b)(3) of the Bankruptcy Code......................................8

2. Section 1102(b)(3) Orders.........................................................9

3. The Refco Model § 1102(b)(3) Protocol...................................9

C. Monitoring the Case................................................................................ 14

D. Investigation and Case Participation .................................................... 15

1. Review of Indebtedness and Liens.........................................15

2. Potential Actions Against Insiders ......................................... 16

3. Possible Consolidation of Multiple Debtors.........................17

4. Plan Negotiation .......................................................................18

5. Appointment of a Trustee or Examiner.................................20

6. Conversion or Dismissal of a Case.........................................22

Chapter II

Appointment of the Committee and Retention/Compensation of Professionals ................25

A. Formation of the Committee ................................................................. 26

1. Organizational Meeting ........................................................... 26

2. Proxies........................................................................................ 27

3. U.S. Trustee's Appointment ..................................................... 29

4. Selection of the Chair............................................................... 30

B. Governance...