Recital (65)

The burden of establishing and operating a creditors’ committee ought to be commensurate with its benefits. Therefore, Member States should be able to provide that no creditors’ committee is established where the burden of establishing and operating it would be higher than the economic relevance of the decisions it might take. This can be the case where there are too few creditors, where the large majority of creditors has a small share in the claim against the debtor, where possible delays caused by establishing a creditors’ committee would lead to the deterioration of the financial situation of the debtor, or where the value expected to be recovered from the insolvency estate is lower than the cost of establishing and operating the creditors’ committee. Such situations occur, in particular, in insolvency proceedings concerning debtors who are entrepreneurs or small enterprises, and in discharge procedures. Member States should be able to provide for the establishment of a creditors’ committee only for large undertakings within the meaning of Article 3(4) of Directive 2013/34/EU of the European Parliament and of the Council. In the case of smaller enterprises, it is possible that national law already provides, in other ways, for creditors’ interests to be adequately protected through insolvency proceedings.