Creditors’ committees should be granted sufficient rights to perform their functions efficiently and effectively. Member States should ensure that creditors’ committees act in a transparent manner and can interact with insolvency practitioners, courts, the debtor-in-possession, and the creditors that they represent, as necessary, to enable creditors’ committees to form and communicate their views on matters of direct interest and relevance to creditors, and for those views to be duly considered in proceedings. Member States should provide for the right of creditors’ committees to request information from insolvency practitioners and, where applicable, debtors-in-possession. Member States should provide for a right of creditors’ committees to be heard on major decisions. Member States should be able to allow the general meeting of creditors to delegate decisions to the creditors’ committee. Member States should also be able to provide for the right of creditors’ committees to appoint a secretary and to request external advice on matters in which the creditors they represent have an interest.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
