Wiley Rein attorneys have served as counsel to a host of creditors committees. Creditors committees consist of the unsecured creditors of the bankrupt company, are established in chapter 11 reorganization cases only, and are very effective tools for creditors to utilize to maintain input into the debtor's reorganization efforts. Creditors committees have standing to be heard on all matters affecting the debtor's reorganization efforts and carry considerable power in the debtor's reorganization efforts.
Wiley Rein's representation of creditors' committees includes the following:
- Counsel to Chairman of the Creditors Committee in Levitz Furniture Incorporated
- Committee Counsel in Bahman and Roshanak Batmanghelidj
- Counsel to the Committee in Urban Broadcasting Corporation
- Committee Counsel in Digital Now, Inc.
A hallmark of our representation is the regular and constant communication to members of the committee as well as to the individual creditors in the case. While we work closely with the debtor and its professionals, we nevertheless maintain a close watch on the debtor's activities and will, in appropriate cases, move to wrest control of the case from the debtor if it is in the best interest of creditors. By taking a practical yet assertive approach we have been successful in enhancing the recovery of unsecured creditors in cases across the country.