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Anyone else notice this?

posted by Stephen Lubben

Chrysler's disenting senior creditors filed their much discussed 2019 statement the other day. A copy can be found here.

Under Federal Rule of Bankruptcy Procedure 2019(a), the statement must include "a copy of the instrument, if any, whereby the . . .  committee . . .  is empowered to act on behalf of creditors."

The creditors attached a copy of their committee's agreement. It is not executed (in human speak, it is unsigned). Does that count? I'm not sure an unsigned document proves that they are empowed to act for anyone.

May 7, 2009 at 8:38 PM in Corporate Bankruptcy

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Comments

It's hard to feel sorry for the non-TARP lenders listed in Appendix (or Addendum) A. I'm sure the final copy submitted to/stamped by the clerk was signed.

Posted by: Gregman2 | May 07, 2009 at 11:50 PM

You got me curious, so I checked the PACER site (http://ecf.nysb-mega.uscourts.gov). Same document.

Posted by: Stephen Lubben | May 08, 2009 at 06:20 AM

Paragraph 5 of the pleading says:

The terms of White & Case’s engagement by the Chrysler Non-TARP Lenders are set forth in
the Agreement of the Chrysler CarCo Lenders Group, which is attached as Exhibit B.

The 2019 statement is a verified statement made under penalty of perjury by Attorney Uzzi.

That may be good enough.

Posted by: ctk56 | May 10, 2009 at 08:22 PM

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