What is the Committees role in the Magna Cases?
Pursuant to the Bankruptcy Code, the Committee may: (1) consult with the trustee or debtor in possession concerning the administration of the Magna Cases; (2) investigate the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of the Debtors’ businesses and the desirability of the continuance of such businesses, and any other matter relevant to the Magna Cases or to the formulation of a Plan; (3) participate in the formulation of a Plan, advise those represented by the Committee of the Committee’s determinations as to any Plan formulated, and collect and file with the court acceptances or rejections of a Plan; (4) request the appointment of a trustee or examiner under section 1104 of the Bankruptcy Code; and (5) perform such other services as are in the interests of the unsecured creditors.
