What is the role of the Official Committee of Unsecured Creditors?
The basic function of the Official Committee of Unsecured Creditors is to act as both watchdog and advisor of the Debtors. The general duties of the Official Committee of Unsecured Creditors are set out in the Bankruptcy Code. The Official Committee of Unsecured Creditors may employ legal counsel or other consultants, confer with the Debtors in the administration of the estate, conduct investigations into the Debtors’ financial affairs, participate in plan formation, and generally represent the interests of creditors.
