Bankruptcy / Insolvency Law
Committee of Creditors (CoC)
A body comprising a company's financial creditors, formed during insolvency resolution, with the power to approve or reject a resolution plan for the distressed company.
The CoC plays a central decision-making role in the insolvency resolution process — voting on whether to approve a resolution plan submitted by a potential investor, or to instead push the company into liquidation if no viable plan emerges.
Voting share on the CoC is generally proportionate to the size of each financial creditor's outstanding debt.
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