While a creditors’ committee should be sufficiently large to ensure a diversity in the views and interests of the creditors, it should also be relatively limited in size to be able to deliver on its tasks effectively and in a timely manner. Member States should specify when and how the composition of a creditors’ committee needs to be altered, such as in the event that representatives are no longer able to act, including in the creditors’ best interests, or wish to withdraw. Member States should also specify the conditions for removing members who have committed a serious violation with respect to their duty to act in the interests of the general body of creditors. Such violations can include situations of conflicts of interest.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
