The companies said they hoped that committees of creditors would be appointed quickly.

It was afraid that institutional investors would be scared away from serving on committees of creditors.

The committee of creditors who have been running the debt-laden company have failed so far in efforts to sell it.

Barring a last-minute hitch, he will announce an agreement on Monday with a committee of creditors.

Isetan resigned yesterday from the official committee of creditors, seeking an independent route to recoup its money.

In a Chapter 11 situation, any sale of assets has to be approved by a committee of creditors and, ultimately, by the court.

But their decisions are overseen by a 13-member committee of creditors acting in conjuction with the New York bankruptcy court.

On December 29, 2010, the court appointed a committee of creditors and the proceedings were altered to include insolvency proceedings.

The deal is subject to approval by a committee of creditors of Thrunet, which filed for bankruptcy protection last March.

He said Eastern representatives will meet today with a committee of creditors to request permission to transfer about $100 million in escrowed cash to its operating accounts.

The fund would approve a cessation initially, but a committee of creditors, once organized, would take control of monitoring a country's finances during revamping.

The earnings report was overshadowed by continuing speculation about the activities of the two committees of creditors that will monitor Texaco during its bankruptcy proceedings.

In 1906 a committee of creditors asked Leonor to take charge of the Kansas City Southern Railroad.

The Federal judge overseeing the bankruptcy proceedings of Texaco Inc. yesterday ordered the two separate committees of creditors to merge.

Under bankruptcy law, advisers to the various committees of creditors and other affected parties can ask the court to direct payment of their bills by the bankrupt company.

After a few futile months of attempting recovery, the committee of creditors voted to liquidate the company assets valued at $1.6 million by public auction in bulk.

The committee of creditors now running Daewoo Motor have been searching for a new buyer ever since Ford Motor withdrew its $6.9 billion bid last September.

The company and its unofficial committee of creditors will seek the court's approval for a reorganization plan to which they have already agreed, said C. Derek Anderson, the committee's chairman.

In a succession of votes, the creditors rejected the arguments of Yukos, decided to ask the court to declare Yukos bankrupt, and set up a committee of creditors.

In a separate development, Eastern's pilots said in Washington that they were withdrawing from a committee of creditors to protest what they called unfair treatment in the carrier's bankruptcy proceedings.

Jeffrey Jones, president of the American Chamber of Commerce in Korea, called on the committee of creditors running the bankrupt Daewoo Motor to simply hand General Motors the keys.

In September, Mr. O'Neill backed efforts by the International Monetary Fund to propose an international process under which a country like Argentina might renegotiate its debt with a committee of creditors.

Last year, Judge Spector, the bankruptcy judge handling the Dow Corning case, said that the lawyer-dominated committee was invalid under Federal bankruptcy law requiring the appointment of a "committee of creditors."

A17 The unions' fight with Frank Lorenzo for control of Eastern Airlines enters a crucial phase this week in bankruptcy court with the formation of committee of creditors and a hearing on an airline petition.

A committee of creditors later discovered that two members of the audit committee were senior executives at two investment firms - Odyssey Partners and Bear, Stearns, both of which are big Weil, Gotshal clients.