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Bankruptcy

: Credit Slips

Anyone else notice this?

By Stephen Lubben

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Chrysler's disenting senior creditors filed their much discussed 2019 statement the other day.  A copy can be found here.

Under Federal Rule of Bankruptcy Procedure 2019(a), the statement must include "a copy of the instrument, if any, whereby the . . .  committee . . .  is empowered to act on behalf of creditors."

The creditors attached a copy of their committee's agreement.  It is not executied (in human speak, it is unsigned).  Does that count?  I'm not sure an unsigned document proves that they are empowed to act for anyone.

Full post as published by Credit Slips on May 08, 2009 (boomark / email).

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