A creditors’ committee is not just the voice of a bankrupt company’s unsecured creditors but is also the watchdog over the debtor. Successfully representing a creditor’s committee requires the ability to be both friend and foe to the debtor—a skill we have perfected over more than 20 years. Our strategy for success is to assume control of the plan process, curb the debtor’s non-essential spending and quickly exit bankruptcy with a meaningful distribution to creditors.
Our recent committee representations have resulted in substantial cash recoveries for creditors in the steel, manufacturing, retail and high-technology industries. Our creditors’ committee representations have included Corus Bankshares, Inc., SK Hand Tool Corporation, Hartmarx Corporation, Office 1 Superstores and Ganton Technologies.