Due to a number of forces, most importantly the global recession and the resulting global macroeconomic conditions, creditor committees are now having difficulty in finding their role in many Chapter 11 cases.
Creditor Committees in 'Meltdown' Chapter 11 Cases
Due to a number of forces, most importantly the global recession and the resulting global macroeconomic conditions, creditor committees are now having difficulty in finding their role in many Chapter 11 cases. Many factors, including rapid declines in asset values, means that many secured lenders find themselves holding loans that are vastly under-collateralized.
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