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11 U.S.C. § 1103 - U.S. Code - Unannotated Title 11. Bankruptcy § 1103. Powers and duties of committees

Current as of January 01, 2024 | Updated by FindLaw Staff

(a) At a scheduled meeting of a committee appointed under section 1102 of this title, at which a majority of the members of such committee are present, and with the court's approval, such committee may select and authorize the employment by such committee of one or more attorneys, accountants, or other agents, to represent or perform services for such committee.

(b) An attorney or accountant employed to represent a committee appointed under section 1102 of this title may not, while employed by such committee, represent any other entity having an adverse interest in connection with the case. Representation of one or more creditors of the same class as represented by the committee shall not per se constitute the representation of an adverse interest.

(c)A committee appointed under section 1102 of this title may--

(1) consult with the trustee or debtor in possession concerning the administration of the case;

(2) investigate the acts, conduct, assets, liabilities, and financial condition of the debtor, the operation of the debtor's business and the desirability of the continuance of such business, and any other matter relevant to the case or to the formulation of a plan;

(3) participate in the formulation of a plan, advise those represented by such committee of such committee's determinations as to any plan formulated, and collect and file with the court acceptances or rejections of a plan;

(4) request the appointment of a trustee or examiner under section 1104 of this title; and

(5) perform such other services as are in the interest of those represented.

(d) As soon as practicable after the appointment of a committee under section 1102 of this title, the trustee shall meet with such committee to transact such business as may be necessary and proper.

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Cite this article: FindLaw.com - 11 U.S.C. § 1103 - U.S. Code - Unannotated Title 11. Bankruptcy § 1103. Powers and duties of committees - last updated January 01, 2024 | https://codes.findlaw.com/us/title-11-bankruptcy/11-usc-sect-1103/

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