11 U.S.C. § 1102 : US Code - Section 1102: Creditors' and equity security holders' committees

Search 11 U.S.C. § 1102 : US Code - Section 1102: Creditors' and equity security holders' committees

(a)(1) Except as provided in paragraph (3), as soon as
practicable after the order for relief under chapter 11 of this
title, the United States trustee shall appoint a committee of
creditors holding unsecured claims and may appoint additional
committees of creditors or of equity security holders as the United
States trustee deems appropriate.
(2) On request of a party in interest, the court may order the
appointment of additional committees of creditors or of equity
security holders if necessary to assure adequate representation of
creditors or of equity security holders. The United States trustee
shall appoint any such committee.
(3) On request of a party in interest in a case in which the
debtor is a small business debtor and for cause, the court may
order that a committee of creditors not be appointed.
(4) On request of a party in interest and after notice and a
hearing, the court may order the United States trustee to change
the membership of a committee appointed under this subsection, if
the court determines that the change is necessary to ensure
adequate representation of creditors or equity security holders.
The court may order the United States trustee to increase the
number of members of a committee to include a creditor that is a
small business concern (as described in section 3(a)(1) of the
Small Business Act), if the court determines that the creditor
holds claims (of the kind represented by the committee) the
aggregate amount of which, in comparison to the annual gross
revenue of that creditor, is disproportionately large.
(b)(1) A committee of creditors appointed under subsection (a) of
this section shall ordinarily consist of the persons, willing to
serve, that hold the seven largest claims against the debtor of the
kinds represented on such committee, or of the members of a
committee organized by creditors before the commencement of the
case under this chapter, if such committee was fairly chosen and is
representative of the different kinds of claims to be represented.
(2) A committee of equity security holders appointed under
subsection (a)(2) of this section shall ordinarily consist of the
persons, willing to serve, that hold the seven largest amounts of
equity securities of the debtor of the kinds represented on such
committee.
(3) A committee appointed under subsection (a) shall -
(A) provide access to information for creditors who -
(i) hold claims of the kind represented by that committee;
and
(ii) are not appointed to the committee;
(B) solicit and receive comments from the creditors described
in subparagraph (A); and
(C) be subject to a court order that compels any additional
report or disclosure to be made to the creditors described in
subparagraph (A).