Series 79: Unsecured Creditors’ Committee (UCC)

Taken from our FINRA Investment Banking Exam

Definition of the term Unsecured Creditors’ Committee (UCC)...

in a Chapter 11 bankruptcy, a committee appointed by the U.S. Trustee. Typically consists of the debtor’s seven largest unsecured creditors. The committee represents not only its members’ interests but those of all unsecured creditors. It investigates the debtor’s business and finances, participates in drafting the reorganization plan, and helps oversee Section 363 sales.

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Solomon Exam Prep Study Materials for the Series 79
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