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Unsecured Creditors’ Committees

As a member of an Unsecured Creditors’ Committee, you’re often at the bottom of the bankruptcy food chain. Meanwhile, you may have a CEO who’s breathing down your neck to recoup what’s owed to your company.

While other law firms may be challenged by tough problems in tough environments, Schafer and Weiner embraces the challenge. Our attorneys help you gain a seat at the table, regularly obtaining substantial dividends.

Here are a few examples of how we’ve helped Unsecured Creditors’ Committees get the results you’d only think secured creditors could expect:

  • Filed a motion to appoint a Chapter 11 trustee to replace company management, and resolved that motion only after the company agreed to pay the creditors 100%, plus interest.
  • Developed a litigation strategy that elevated unsecured creditors over a $2 million federal tax lien claim. Unsecured creditors received a distribution, while the IRS got nothing.
  • Obtained initial funding of more than $1 million for a creditors’ trust for unsecured creditors, with the potential for higher recovery—even though the debtors could not find a going-concern purchaser due to market overcapacity and large secured claims.
  • Obtained a 75% recovery for unsecured creditors of company with $70 million in annual revenue by preparing a plan that threatened to give the equity of the company to the creditors —in effect, becoming a bidder and forcing up the sale price.
  • Created a priority carve-out for unsecured creditors and saved administrative costs by waiving disclosure statement requirements.

Don’t walk away from the table with less. Let Schafer and Weiner maximize your return.

Unsecured Creditors' Committees