Speaker: Jason Torf

Topic: Creditors’ Committees & Liquidating Trusts

I hope you all had an opportunity to hear Jason speak in November. His vast knowledge of bankruptcy and creditors’ rights was apparent & he had a brilliant way of sharing a lot of information in a short amount of time. Please see his slide deck from his presentation regardless of whether you heard him or not. It is full of wonderful information.

This is a short recap of what he presented to us. Jason’s main focus was on creditors’ committees. He helped us to understand what they are, how they are formed, the different types of committees, when and if we should participate in a committee, and how to get on one. Jason covered the duties of the committees, and the power committee members have. He also talked about creditors’ committee standing. He then explained to us what DIP Financing was & the use of Cash Collateral. With the little time he had left he quickly went over 363 Sales, liquidating trusts, and everything the committee goes through to complete the many steps to help wrap up these bankruptcy cases.

I loved how Jason used stories of cases he has worked on to help explain the different steps or processes he has gone through since he has been on several creditors’ committees. That was what helped me to better understand this whole process. I enjoyed his presentation.