Meeting liquidation costs requires committee to estimate liquid assets and mandate contributions where estimated assets fall short. The committee of creditors, in consultation with the resolution professional, must estimate liquidation costs and the value of liquid assets when approving a resolution plan or deciding to liquidate; where estimated liquid assets are insufficient, the committee must approve a plan providing for a contribution to cover the shortfall, and the resolution professional must submit that approved plan to the Adjudicating Authority when filing the committee's approval or decision.
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Provisions expressly mentioned in the judgment/order text.
Meeting liquidation costs requires committee to estimate liquid assets and mandate contributions where estimated assets fall short.
The committee of creditors, in consultation with the resolution professional, must estimate liquidation costs and the value of liquid assets when approving a resolution plan or deciding to liquidate; where estimated liquid assets are insufficient, the committee must approve a plan providing for a contribution to cover the shortfall, and the resolution professional must submit that approved plan to the Adjudicating Authority when filing the committee's approval or decision.
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