Creditors' Committees: Navigating Disclosures, Fiduciary Duties, Attorney-Client Privilege, and Fees and Expenses
Recording of a 90-minute CLE webinar with Q&A
This CLE course will discuss the characteristics of official, unofficial and ad hoc creditor committees in Chapter 11 bankruptcy proceedings, including committee structure, rights and obligation, advantages and pitfalls. The panel will examine recent legal developments impacting some of the most-contested issues involving creditor committees—disclosure obligations, fiduciary duties, the attorney-client privilege, and entitlement to fees and expenses.
Outline
- Structuring the committee
- Optimal composition of committee beyond top/largest creditor consideration
- Selection of professional advisors
- Committee member considerations
- Fiduciary duties
- Liabilities of members
- Risks and rewards of participating
- Conflicts of interest and/or self-dealing
- Disclosure obligations: nondisclosure and confidentiality agreements
- Committee responsibilities
- Entitlement to fees and expenses
Benefits
The panel will review these and other key issues:
- What is the optimal composition of a creditors’ committee beyond the top or largest creditor?
- What are the benefits and risks for participating in a creditors’ committee?
- How do the fiduciary duties differ between formal and ad hoc creditor committees?
- How does entitlement to fees and expenses differ between official and ad hoc committees?
Faculty
Edwin Caldie
Partner
Stinson Leonard Street
Mr. Caldie provides creative insight and effective solutions to creditors, public companies, financial institutions,... | Read More
Mr. Caldie provides creative insight and effective solutions to creditors, public companies, financial institutions, investment funds, and individuals in complex bankruptcy cases and other commercial litigation matters. He routinely represents the interests of unsecured creditors’ committees, public and private companies, corporate debtors, large-scale secured and unsecured creditors, trustees, and others in a wide variety of Chapter 11 bankruptcies, civil lawsuits, workouts, commercial disputes and negotiations.
CloseJanine M. Figueiredo
Partner
Hahn & Hessen
Ms. Figueiredo’s practice focuses primarily on the representation of creditors’ committees and secured... | Read More
Ms. Figueiredo’s practice focuses primarily on the representation of creditors’ committees and secured and unsecured creditors in corporate reorganizations, restructurings and liquidations. As an integral team member in representations of the official committee of unsecured creditors of some of the nation’s largest subprime mortgage bankruptcies, Ms. Figueiredo has developed expertise both in financial products and complex debt structures.
CloseSteven Kortanek
Partner
Womble Carlyle Sandridge & Rice
Mr. Kortanek is a business bankruptcy lawyer and business litigator who has practiced for over 20 years. He... | Read More
Mr. Kortanek is a business bankruptcy lawyer and business litigator who has practiced for over 20 years. He concentrates his practice in the areas of business restructuring and bankruptcy, as well as litigation in Delaware state and federal courts. His clients include Chapter 11 debtors, senior management, official committees, secured lenders, trade creditors, landlords, asset purchasers, estate representatives, and major creditor and equity holder constituencies. Mr. Kortanek also lectures and writes on bankruptcy topics to a wide audience of other restructuring professionals.
Close