Creditor Committee Formation Questionnaire - Department of ... 2026

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The document is a questionnaire for creditors interested in serving on the Official Committee of Unsecured Creditors in a bankruptcy proceeding. It collects information about the creditor's identity, claim details, and potential conflicts of interest. The purpose of the committee is to represent unsecured creditors collectively, and members are expected to participate actively in meetings and decision-making processes regarding the debtor's reorganization. The document also outlines the powers, duties, and restrictions applicable to committee members.

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Click ‘Get Form’ to open the Creditor Committee Formation Questionnaire in the editor.
Begin by clearly indicating your willingness to serve on the committee by selecting 'Yes' or 'No' in section A. Ensure that you provide your name, phone number, address, and email in the designated fields.
In section B, enter the name and contact information of your counsel, if applicable. This includes their phone number, address, and email.
Section C requires you to list any professional individuals who have contacted you regarding the committee formation. Provide their names and contact details.
For section D, input the amount of your unsecured claim in U.S. dollars. Follow this by detailing each debtor against whom you hold a claim in section E.
In section F, describe the nature of your claims thoroughly. Include any relevant details about secured portions or litigation status.
Complete sections G through I by answering questions related to administrative expenses and confirming your ability to participate in meetings if selected for the committee.
Finally, review all entries for accuracy before signing and dating at the bottom of the form.

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What does a creditors committee do?

Powers and Duties of Unsecured Creditors Committees. Section 1103 of the Bankruptcy Code provides that the Committee may consult with the debtor, investigate the debtor and its business operations and participate in the formulation of a plan of reorganization.

What is a proof of claim for an unsecured creditor?

A claim may be secured or unsecured. A proof of claim is a form used by the creditor to indicate the amount of the debt owed by the debtor on the date of the bankruptcy filing. The creditor must file the form with the clerk of the same bankruptcy court in which the bankruptcy case was filed.

Who is the creditors committee comprised of?

Creditors Committees The committee is appointed by the U.S. trustee and ordinarily consists of unsecured creditors who hold the seven largest unsecured claims against the debtor. 11 U.S.C. 1102.

What are the powers of the creditors committee?

Function Of The Creditors Committee It is for the committee or the court to give the trustee or, possibly liquidator, sanction of bring, institute or defend any action or legal proceedings relating to the property under his control.

How is the committee of creditors formed?

Sec-21(1) of the code says, The interim resolution professional shall after collation of all claims received against the corporate debtor and determination of the financial position of the corporate debtor, constitute a committee of creditors.

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What is the role of the committee of creditors?

The CoC also decides on what and how expenses are to be made and approve the process cost. It also decides the professional fees for the services of the Insolvency Professional (IP) it chooses to conduct the process. In addition, the CoC makes the decision to retain or replace the IP.

What is the official creditor committee?

A creditors committee promotes transparency and accountability in the bankruptcy process. Investopedia / Nez Riaz. Definition. A creditors committee is a group of representatives that act on behalf of creditors in bankruptcy proceedings.

Creditor Committee Formation Questionnaire - Department of ... 2026

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