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FAQ / How are the competing interests of company, shareholders and creditors represented?


The Bankruptcy Code provides for the retention of attorneys, accountants and other professionals to represent the debtor. The Bankruptcy Code also provides for the establishment of official committees, in appropriate cases, to represent the interests of unsecured creditors and/or shareholders. These committees, if established, are also entitled to representation by attorneys, accountants and other professionals. The costs of all of these professionals’ fees and expenses are borne by the debtor’s bankruptcy estate.

 




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