The U.S. Trustee appointed a three-member official committee of unsecured creditors, adding a coordinated creditor constituency to the City’s restructuring. The committee appointmentDkt. 147 names Ben Annen, Paul Dearmin and Warren Page as members. Annen, representing HLA Engineering and Land Surveying, will serve as chairperson; the filing does not identify represented entities for Dearmin or Page and does not disclose the members’ claim amounts or types.
The committee’s formation gives unsecured creditors a collective counterparty in plan negotiations and a formal channel for scrutinizing the City’s proposed treatment of claims. Professionals should now track the committee’s retention of counsel and financial advisers, as well as its position on the City’s requested plan-process extension and any subsequent plan terms.
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