In the Tuscany International Drilling bankruptcy action, filed in the United States Bankruptcy Court for the District of Delaware, the United States Trustee recently filed a Statement that the Unsecured Creditors’ Committee Has Not Been Formed. The Statement indicates that there was “insufficient response to the United States Trustee’s communications/contact for service on the committee.”
In Chapter 11 cases, an Official Committee of Unsecured Creditors is not uncommonly formed to collectively represent the interests of unsecured creditors. Without a creditors committee, each unsecured creditor must represent their own interests in Court.
One way in which creditors can assert their interests is to attend the Section 341 Meeting of Creditors, in order to depose the debtor’s representative regarding the assets and liabilities of the bankruptcy estate. As discussed in a prior post, the Section 341 meeting of creditors in the Tuscany bankruptcy action is scheduled for March 13, 2014 at 10:30 a.m.
To review prior articles related to the Tuscany bankruptcy, click on the following links:
Carl D. Neff is a bankruptcy attorney with the law firm of Fox Rothschild LLP. Carl is admitted in Delaware and regularly practices before the United States Bankruptcy Court for the District of Delaware. You can reach Carl at (302) 622-4272 or at firstname.lastname@example.org.