标题:Intra-Committee Conflicts, Multiple Creditors’ Committees, Altering Committee Membership and Other Alternatives for Ensuring Adequate Representation under Section 1102 of the Bankruptcy Code
摘要:The present creditors' committee under section 1102 of the Bankruptcy Code1
evolved from the former "protective committee" found in federal equity
receivership cases. Protective committees were usually appointed for each class of
public debt. Today, a single creditors' committee is often appointed to represent the
interests of all unsecured creditors as a class. As a result, the unsecured creditors'
committee represents diverse creditor groups that often have competing interests.
In some instances, the competing interests of creditors' committee members
may result in a situation where the creditors' committee is not adequately
representing the interests of a particular creditor group. Often, the dispute arises
because a committee member allegedly has a competing fiduciary or contractual
duty or because a particular creditor group believes that it is under-represented or
disenfranchised. In those cases, the bankruptcy court usually must determine
whether it is necessary to appoint an additional committee under section 1102(a)(2)
of the Bankruptcy Code so that the creditor group is adequately represented. A
bankruptcy court may also consider some other form of relief, such as altering the
creditors' committee membership or appointing an official subcommittee to insure
that a creditor group is adequately represented in the reorganization process.