Committee composition: where only one class of creditors exists, authorised representative(s) alone form the committee under insolvency rules. Regulation 16B provides that where a corporate debtor has creditors only in a single class and no other financial creditor is eligible to join the committee, the Committee of Creditors shall consist exclusively of the authorised representative(s) of that class, supplying a clear rule on committee membership in single-class creditor situations under the insolvency resolution regulations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Committee composition: where only one class of creditors exists, authorised representative(s) alone form the committee under insolvency rules.
Regulation 16B provides that where a corporate debtor has creditors only in a single class and no other financial creditor is eligible to join the committee, the Committee of Creditors shall consist exclusively of the authorised representative(s) of that class, supplying a clear rule on committee membership in single-class creditor situations under the insolvency resolution regulations.
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