Creditors' Committee | Practical Law

Creditors' Committee | Practical Law

Creditors' Committee

Creditors' Committee

Practical Law Glossary Item 2-382-3372 (Approx. 3 pages)

Glossary

Creditors' Committee

The committee appointed by the US Trustee to represent the interests of unsecured creditors in Chapter 11 cases. It ordinarily consists of the seven largest unsecured creditors willing to serve, though the US Trustee has discretion to determine the committee's size and membership. In large Chapter 7 cases, creditors sometimes elect a creditors' committee consisting of between three and 11 unsecured creditors, who may consult with the Chapter 7 case trustee about the administration of the estate.
For more information on creditors' committees, see Practice Note, Chapter 11 Creditors' Committees.