Committee of Creditors

The Committee of Creditors is a group of major lenders or creditors involved in a company's insolvency or restructuring process. Their role is to represent the interests of all creditors, review proposals for the company's debt repayment or reorganization, and approve key decisions. The committee ensures that creditors' rights are considered fairly and helps facilitate a transparent process aimed at maximizing the value of the company's assets for repayment. Essentially, they oversee and influence how the company’s financial issues are managed during insolvency proceedings.