Sands Anderson Report on Creditors Committee formation in Toys "R" Us Chapter 11
The US Trustee yesterday appointed the Official Committee of Unsecured Creditors (the "Committee") for the Toys "R" Us jointly administered Chapter 11 cases. The Committee can be expected to play a significant role in the case as a fiduciary body acting on behalf of unsecured creditors generally, but can represent the interests of no creditor individually.
The following nine creditors were appointed to the Committee:
- Mattel, Inc.
- Evenflo company Inc.
- Simon Property Group, Inc.
- Euler Hermes North America Insurance Co.
- Veritiv Operating Company
- Huffy Corporation, KIMCO Realty
- The Bank of New York Mellon
- Lego Systems, Inc.
Following its formation, the Committee interviewed prospective counsel and financial advisors. Kramer Levin was selected as Committee Counsel and FTI was selected as Financial Advisor. The cost of the Committee's professionals will be borne by Toys "R" Us, subject to court approval.
Sands Anderson currently represents the individual interests of multiple vendors/creditors in the Toys "R" Us cases.
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